3/10/2010 0 Comments
Baltic Trading Ltd. (BALT)
Baltic Trading Ltd. (BALT) started it debut of trading slightly lower after opening at the bottom end of the IPO range. I think that this is an interesting stock to look at for if/when the Baltic dry index is going to move up again. It has not debt and is going to heavily use the spot market for determining rates. BALT is going to buy ships with the proceeds of the IPO, at lower than historic average costs, and attempt to ride the consolidation of supply that is necessary for the industry to become profitable.
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