Company:  BALTIC TRADING LTD (BALT)
Form Type:  10-K
Filing Date:  3/3/2014 
CIK:  0001474042 
Address:  299 PARK AVENUE, 12TH FLOOR 
City, State, Zip:  NEW YORK, New York 10171 
Telephone:  646-443-8550 
Fiscal Year:  12/31 
Last Trade
Last Trade: 
$5.42  
Change: 
0.00 (0.00%)  
Trade Time: 
Sep 17  
Market Cap: 
$277.53M
Description of Business
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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  FORM 10-K
    PART I
      ITEM 1. BUSINESS
      ITEM 1A. RISK FACTORS
      ITEM 1B. UNRESOLVED STAFF COMMENTS
      ITEM 2. PROPERTIES
      ITEM 3. LEGAL PROCEEDINGS
      ITEM 4. MINE SAFETY DISCLOSURES
    PART II
      ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED ...
      ITEM 6. SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA
      ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL ...
        Results of Operations
        LIQUIDITY AND CAPITAL RESOURCES
      ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT ...
      ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
        REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
        BALANCE SHEET
        INCOME STATEMENT
        STOCKHOLDERS EQUITY
        CASH FLOW
        1 - GENERAL INFORMATION
      ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ...
      ITEM 9A. CONTROLS AND PROCEDURES
      REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
      ITEM 9B. OTHER INFORMATION
    PART III
      ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
      ITEM 11. EXECUTIVE COMPENSATION
      ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND ...
      ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, ...
      ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
    PART IV
      ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
    SIGNATURES
    EXHIBIT INDEX
  EXHIBIT 10.23
  EXHIBIT 10.24
  EXHIBIT 10.32
  EXHIBIT 10.38
  EXHIBIT 10.39
  EXHIBIT 10.40
  EXHIBIT 10.41
  EXHIBIT 10.42
  EXHIBIT 21.1
    SUBSIDIARIES
  EXHIBIT 23.1
    CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  EXHIBIT 31.1
    CERTIFICATION
  EXHIBIT 32.1
    President and Chief Financial Officer Certification
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