Drewry Shipping Consultants Ltd., Drewry House, Meridian Gate, 213 Marsh Wall, London E14 9FJ, England
Telephone: +44 (0) 20 7538 0191 Facsimile: +44 (0) 20 7987 9396 Email: enquiries@drewry.co.uk Website: www.drewry.co.uk
Baltic
Trading Limited
299 Park Avenue, 20th Floor
New York, New York 10171
United States of America
February 11, 2010
Dear Sir/Madam
At your request we have reviewed the following sections of the Prospectus contained in the Registration Statement on Form S-1, as amended, filed by Baltic Trading Limited:
Based on our review of this material, we confirm that such sections of the Prospectus and the statistical and graphical informational contained therein accurately describe the international drybulk shipping industry in all material respects based on available data. We hereby consent to the filing of this letter as an exhibit to the Registration Statement of the Company of Form S-1, as amended, to be filed with the U.S. Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended, and to the reference to our firm under the heading "Experts" in the Prospectus and to all other references to our firm therein.
Yours faithfully,
/s/ Nigel Gardiner
Managing
Director
Drewry Shipping Consultants Ltd.
Drewry Shipping Consultants Limited – registered in London, England No. 3289135