Baltic Trading

Apollo Management has deepened its ties with Peter Georgiopoulos after taking a major holding in Baltic Trading.
Apollo Management is among the investors in the remodelled Genco Shipping, has disclosed a 6% stake in spin-off Baltic Trading. SEC filing said various Apollo Management funds had amassed 3,052,645 shares in the bulker owner Baltic Trading which are today worth a little over $10m.
Baltic Trading boasts a fleet of 17 bulkers, including four newbuildings.
Baltic Trading executives were seriously considering a merger of Baltic Trading and Genco Shipping, from which the former was spun-off in 2010.
Baltic Trading and Genco Shipping , the combined company would have a fleet of 70 vessels boasting a collective 5.16 million deadweight, including 13 capesizes.
Apollo Management, the hedge fund fronted by Leon Black, Joshua Harris and Marc Rowan, has strong shipping links outside of its dealings with Peter Georgiopoulos. Apollo Management has a joint venture with German owner Rickmers, is a partner in Jones Act owner Philly Tankers, backed by Kristian Rokke, and an investor in Principal Maritime.