<SUBMISSION>
<ACCESSION-NUMBER>0001104659-10-014229
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20100315
<FILING-DATE>20100315
<DATE-OF-FILING-DATE-CHANGE>20100315
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>MAVROLEON BASIL G
<CIK>0001333551
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>001-34648
<FILM-NUMBER>10681704
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>1 GREENWICH OFFICE PARK
<CITY>GREENWICH
<STATE>CT
<ZIP>06831
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>Baltic Trading Ltd
<CIK>0001474042
<ASSIGNED-SIC>4412
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>1T
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>299 PARK AVENUE, 20TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10171
<PHONE>646-443-8550
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>299 PARK AVENUE, 20TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10171
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>a3.xml
<DESCRIPTION>3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-03-15</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001474042</issuerCik>
        <issuerName>Baltic Trading Ltd</issuerName>
        <issuerTradingSymbol>BALT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001333551</rptOwnerCik>
            <rptOwnerName>MAVROLEON BASIL G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BALTIC TRADING LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>299 PARK AVENUE, 20TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10171</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Basil G. Mavroleon</signatureName>
        <signatureDate>2010-03-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
