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Company:
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BALTIC TRADING LTD (BALT)
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Form Type:
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8-K
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Filing Date:
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7/31/2013
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CIK:
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0001474042
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Address:
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299 PARK AVENUE, 12TH FLOOR
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City, State, Zip:
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NEW YORK, New York 10171
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Telephone:
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646-443-8550
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Fiscal Year:
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12/31
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Last Trade
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Last Trade:
$1.77
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Change:
0.02 (1.14%)
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Trade Time:
Jan 23
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Market Cap:
$90.63M
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Description of Business
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We are a New York City-based company incorporated in October 2009 in the
Marshall Islands to conduct a shipping business focused on the drybulk industry
spot market. We were formed by Genco Shipping & Trading Limited (NYSE: GNK)
(�Genco�), an international drybulk shipping company that also serves as our
Manager. Our fleet currently consists of four Capesize vessels, four Supramax
vessels and five Handysize vessels with an aggregate carrying capacity of
approximately 1,095,000 deadweight tons (�dwt�). The average age of our current
fleet is approximately 3.9 years, as compared to the average age for the world
fleet of approximately 9 years for the drybulk shipping segments in which we
compete. After the expected delivery of four Ultramax newbuildings that we have
agreed to acquire, we will own a fleet of 17 drybulk vessels, consisting of four
Capesize, four Ultramax, four Supramax and five Handysize vessels with a total
carrying capacity of approximately 1,351,000 dwt.
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