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 August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

That’s Not Coming on Board!

There’s hardly anything that can’t be shipped in a container. However, for ethical reasons, Hapag-Lloyd refuses to transport certain goods.   Anyone who regularly transports goods for third parties,

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Bulk Carrier Trends

Dry Bulk Recovery Still a Long Way Off

The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

Bulk Carrier Ship Delivered to Pioneer Marine

Pioneer Marine, a shipowner and drybulk handysize transportation service provider, announced  it has accepted delivery of a 38,464 DWT Green Dolphin eco-design handysize vessel, the M.

Finance

Dry Bulk Recovery Still a Long Way Off

The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1694 sec (6 req/sec)