Baltic Trading announced that it has commenced a public offering of common stock. 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.

Costs to ship liquefied petroleum gas will exceed the 2008 record as the U.S. expands exports amid rising demand in Latin America and India, according to Exmar NV (EXM), the operator of 27 carriers.

A surplus of the largest oil tankers expanded for a second week in the Persian Gulf, the world’s biggest crude-loading region, a Bloomberg News survey showed. There are 19 percent more very large crude carriers available for hire over the next 30 days than probable cargoes, according to the median in a Bloomberg survey of six shipbrokers.

Rates to ship iron ore fell for a ninth day on speculation Chinese steelmakers will cut back from record-high production as prices fall. Daily earnings for Capesize ships hauling about 160,000 metric tons of the raw material slid 0.8 percent to $5,015, the lowest since May 1, according to the Baltic Exchange, the London-based publisher of shipping costs.