Greece-based cargo shipper Quintana Maritime ( QMAR) hit a 52-week high after the company said its board has decided to evaluate strategic alternatives to enhance stockholder value.

"The board, in light of the significant increases in asset values experienced in the drybulk shipping industry during the past year, has concluded that it is appropriate at this time to explore ways to enhance the company's value for its shareholders," Quintana Chairman Corbin J. Robertson said in a statement.

Shares were recently up 11% to $28.01. Before Tuesday, the stock had traded in a range of $10.10 to $25.50 in the past year.

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