Baltic Trading to Buy Three Handysize Vessels

15 June 2010 (Last Updated June 15th, 2010 18:30)

Baltic Trading Group will acquire three 35,000dwt Handysize vessels from Metrostar Group for $98.8m. The Handy Wind, Handy Cove and new build Hull No H-4011, will increase Baltic's tonnage capacity by 18.6% to 671,000dwt. The vessels, which will be deliv

Baltic Trading Group will acquire three 35,000dwt Handysize vessels from Metrostar Group for $98.8m.

The Handy Wind, Handy Cove and new build Hull No H-4011, will increase Baltic’s tonnage capacity by 18.6% to 671,000dwt.

The vessels, which will be delivered between July 2010 and October 2010, will be secured on spot market-related time charters with Cargill International.

Baltic plans to fund the acquisition through its existing $100m revolving credit facility.