B+H Ocean Carriers plans private bond placement

B+H Ocean Carriers plans private bond placement    B+H Ocean Carriers will sell up to $60 million in bonds in a private placement.
   The company said the proceeds, together with proceeds of possible additional indebtedness, may be used to buy additional product tankers, converting single-hulled tankers to double-hulled tankers, future development of its shipping business, or to repurchase common shares on the open market.
   The company’s fleet consists of 15 vessels, including six medium range product tankers, two panamax product carriers, and six ore/bulk/oil combination carriers and a 50 percent interest in another.