This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Baltic Trading Limited Announces Plan To Sign Spot Market-Related Time Charters For Two Supramax Vessels

NEW YORK, May 11, 2011 /PRNewswire/ -- Baltic Trading Limited (NYSE: BALT), a drybulk company focused on the spot market, announced today that it has reached separate agreements to enter into spot market-related time charters for two Supramax vessels, the Baltic Panther and the Baltic Jaguar.  

The Baltic Panther is expected to deliver to its charterer, Klaveness Chartering, on or about May 21, 2011, to commence a spot market-related time charter for 22.5 to 25.5 months. The rate for the spot market-related time charter will be based on 95% of the average of the daily rates of the Baltic Supramax Index (BSI), an index published by The Baltic Exchange reflecting the average freight rate for six major Supramax time charter routes, as reflected in daily published reports.

The Baltic Jaguar is expected to deliver to its charterer, Resource Marine PTE Ltd. Singapore, on or about June 1, 2011, to commence a spot market-related time charter for 11 to 13.5 months. The rate for the spot market-related time charter will be based on 97% of the average of the daily rates of the BSI.

Hire for each vessel will be paid every 15 days in arrears net of a 6.25% brokerage commission, which includes the 1.25% commission payable to Genco Shipping & Trading Limited. Baltic Trading will not be responsible for voyage expenses, including fuel. Both agreements are subject to the completion of definitive documentation.

About Baltic Trading Limited

Baltic Trading Limited is a drybulk company focused on the spot market. Baltic Trading transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes. Baltic Trading's fleet consists of two Capesize, four Supramax and three Handysize vessels with an aggregate carrying capacity of approximately 672,000 dwt.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,083.27 +32.52 0.19%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,822.3780 +11.59 0.24%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs