Britannia Bulk Holdings Launches IPO

London (ots/PRNewswire) - Britannia Bulk Holdings Inc (the
"Company") announced today that it is commencing an initial public
offering of 8,333,333 shares of its common stock at a proposed
initial public offering price of $17.00 to $19.00 per share. One of
the Company's directors of chartering and the entities through which
the other director of chartering and the chief executive officer hold
their interests in the Company's shares have granted the underwriters
the right to purchase up to 1,250,000 shares of common stock in the
aggregate at the initial public offering price, less underwriting
discounts, to cover over-allotments, if any. The underwriters may
exercise this right for up to 30 days. The Company has applied to
list its common stock on The New York Stock Exchange under the symbol
"DWT."

The Company intends to use net proceeds from this offering,
together with amounts held in its vessel acquisition account and
borrowings under its new secured term loan facility, for the
repayment of its existing senior secured notes and secured bridge
facilities and for general corporate purposes.

Goldman, Sachs & Co. and Banc of America Securities LLC are
acting as joint book-runners for the offering. Dahlman Rose &
Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers for
the offering.

A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective.

This press release is neither an offer to sell nor a solicitation
of an offer to buy shares of common stock in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. The
offering of these securities will be made only by means of a
prospectus. A copy of the preliminary prospectus relating to the
offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus
Department, 85 Broad Street, New York, NY 10004, Fax: (212) 902-9316
or email at prospectus-ny@ny.email.gs.com or Banc of America
Securities LLC, Capital Markets (Prospectus Fulfillment) by email to
dg.prospectus_distribution@bofasecurities.com or by mail to Banc of
America Securities LLC, Capital Markets Operations, 100 West 33rd
Street, 3rd Floor, New York, NY 10001.

ABOUT BRITANNIA BULK HOLDINGS INC

Britannia Bulk Holdings Inc is an international provider of
drybulk shipping and maritime logistics services with a focus on
transporting drybulk commodities in and out of the Baltic region.

This press release contains certain forward-looking statements
about the Company's proposed initial public offering of its common
stock. Forward-looking statements include statements regarding the
market for the common stock and anticipated future results and can be
identified by the fact that they do not relate strictly to historical
or current facts. They often include words such as "believe,"
"expect," "anticipate," "estimate" and "intend" or future or
conditional verbs such as "will," "would," "should," "could" or
"may." Certain factors that could cause actual results to differ
materially from expected results include delays in consummation of
the offering and concurrent transactions, general economic
conditions, market conditions, conditions in the market for agency
securities, and legislative and regulatory changes that could
adversely affect the business of the Company.

ots Originaltext: Britannia Bulk Holdings Inc
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Company Contact: Fariyal Khanbabi, Chief Financial Officer,
+44-(0)20-7264-4900