Market Show Confidence in Baltic Trading's Public Offering

MarineLink.com
Monday, November 18, 2013

Baltic Trading Limited has successfully completed its previously announced public offering, issuing 12,650,000 new shares of common stock, which included the exercise in full of the underwriters' option to purchase up to 1,650,000 shares of common stock. Gross proceeds of the offering were approximately $58.2 million.

Baltic Trading intends to use the net proceeds from the offering for future vessel acquisitions or, to the extent it does not so use them, for working capital and general corporate purposes.

Jefferies LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering, and DVB Capital Markets LLC, Cowen and Company, LLC, and Clarkson Capital Markets LLC acted as co-managers for the offering.

About Baltic Trading Limited
Baltic Trading Limited is a drybulk company focused on the spot charter market. It transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes, and has a fleet of two Capesize, four Supramax and five Handysize vessels with an aggregate carrying capacity of approximately 736,000 dwt. 

After the expected delivery of the two committed Ultramax newbuildings and two Capesize vessels that Baltic Trading has agreed to acquire, Baltic Trading will own 15 drybulk vessels, consisting of four Capesize, two Ultramax, four Supramax and five Handysize vessels with a total carrying capacity of approximately 1,223,000 dwt.

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Gazprom Constructs Sports Complex in Stavropol

Stavropol hosted today a groundbreaking ceremony of a versatile sports & recreation complex of Gazprom. The sports & recreation complex will include a 50 meter Olympic swimming pool,

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

Bulk Carrier Trends

'Flag Zannis' Delivered

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

New Portal Crane for Schwedenkai Intermodal Handling

Port of Kiel invests in hinterland rail links. A new portal crane has arrived at Kiel’s Schwedenkai Intermodal Terminal, meaning that trains involved in rail-ship

US River Infrastructure Near breaking Point

With a record U.S. harvest just coming in, the river transportation system that is at the heart of the nation's farm economy is overstrained by rising demand for shipping capacity,

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

 
 
Maritime Contracts Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1442 sec (7 req/sec)