Investors in a panamax bulker in the fleet of Orion Reederei are now poised to sell the ship for a loss after buying it at the height of the dry bulk boom.
Among the most expensive acquisitions in the fleet, the 75,000-dwt Baltia (built 2005) was purchased for $83m from Pacific Carriers as the Ikan Belanak in April 2008. The ship is now worth a fraction of that figure.
