<SUBMISSION>
<ACCESSION-NUMBER>0000922423-10-000468
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20101014
<ITEMS>2.01
<ITEMS>9.01
<FILING-DATE>20101014
<DATE-OF-FILING-DATE-CHANGE>20101014
<FILER>
<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>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-34648
<FILM-NUMBER>101124018
</FILING-VALUES>
<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>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>kl10007.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<html>
<head>
    <title>kl10007.htm</title>
    <!-- Licensed to: Kramer Levin -->
    <!-- Document Created using EDGARizer 5.2.3.0 -->
    <!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>

<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

<div>
<hr style="COLOR: black" align="left" noshade size="1" width="100%">
</div>

<br>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED STATES</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WASHINGTON, DC 20549</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM 8-K</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to Section 13 OR 15(d) of the</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities Exchange Act of 1934</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (Date of earliest event reported):&#160;&#160;October 14, 2010</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BALTIC TRADING LIMITED</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact Name of Registrant as Specified in Charter)</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Republic of the Marshall Islands</font></div>
</td>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">001-34648</font></div>
</td>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">98-0637837</font></div>
</td>
</tr><tr>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State or Other Jurisdiction</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of Incorporation)</font></div>
</td>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Commission File Number)</font></div>
</td>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(I.R.S. Employer</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Identification No.)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="26%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">299 Park Avenue</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20th Floor</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address of Principal Executive Offices)</font></div>
</td>
<td valign="top" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="top" width="26%">
<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10171</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Zip Code)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s telephone number, including area code:&#160;&#160;(646) 443-8550</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="DISPLAY: inline; FONT-STYLE: italic">see</font> General Instruction A.2. below):</font></div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<div>
<hr style="COLOR: black" align="left" noshade size="1" width="100%">
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 36pt"><font style="DISPLAY: inline;" face="Wingdings">r</font></td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
</td>
</tr></table>
</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 36pt"><font style="DISPLAY: inline;" face="Wingdings">r</font></td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 36pt"><font style="DISPLAY: inline;" face="Wingdings">r</font></td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 36pt"><font style="DISPLAY: inline;" face="Wingdings">r</font></td>
<td>
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 2.01.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Completion of Acquisition or Disposition of Assets</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On October 14, 2010, Baltic Trading Limited (the &#8220;Company&#8221;) completed the acquisition of the Baltic Wolf, a 177,000 dwt Capesize vessel.&#160;&#160;The Company had agreed to buy the vessel under the terms of agreements that the Company entered into with Oceanways Trust Ltd. and other unaffiliated third party vessel owners to acquire a total of two Capesize vessels and four Supramax vessels as disclosed in the Company&#8217;s Registration Statement on Form S-1 (File No.&#160;333-162456) for its initial public offering.&#160;&#160;The Baltic Wolf is the final vessel to be delivered to the Company under such agreements.&#160;&#160;The Company paid a total purchase price of approximately $71.2 million for the Baltic Wolf, which the Company financed with the proceeds of its initial public offering and a $75 million capital contribution from Genco Investments LLC.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of the Company&#8217;s press release announcing the delivery of this vessel to the Company is attached hereto as Exhibit 99.1.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 9.01.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Financial Statements and Exhibits.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;Exhibits</font></div>

<div>&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 91px">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Exhibit No</font>.</font></div>
</td>
<td width="1019">
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Description</font></font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div>
<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 91px">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">99.1</font></font></div>
</td>
<td width="1019">
<div align="left">

<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press Release dated October 14, 2010.</font></font></font></div>
</div>
</td>
</tr></table>
</div>
</div>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div><br>
&#160;</div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>

<br>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, Baltic Trading Limited has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BALTIC TRADING LIMITED</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DATE:&#160;&#160;October 14, 2010</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">/s/ <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">John C. Wobensmith&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John C. Wobensmith</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 441pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President and Chief Financial Officer</font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
&#160;</div>

<br>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>

<br>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT INDEX</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div>&#160;</div>

<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 91px">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Exhibit No</font>.</font></div>
</td>
<td width="1019">
<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Description</font></font></div>
</td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
<div>
<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 91px">
<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">99.1</font></font></div>
</td>
<td width="1019">
<div align="left">

<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press Release dated October 14, 2010.</font></font></font></div>
</div>
</td>
</tr></table>
</div>
</div>
</div>

<div>&#160;</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>kl10007_ex99-1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html>
<head>
    <title>kl10007_ex99-1.htm</title>
    <!-- Licensed to: Kramer Levin -->
    <!-- Document Created using EDGARizer 5.2.3.0 -->
    <!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>



<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

<div>
<hr style="COLOR: black" align="left" noshade size="1" width="100%">
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: right">Exhibit 99.1</div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONTACT:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John C. Wobensmith</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President and Chief Financial Officer</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Baltic Trading Limited</font></div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(646) 443-8555</font></div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center"><img src="logo.jpg" alt=""></div>

<div>&#160;</div>

<div><br>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Baltic Trading Limited Completes Acquisition of Initial Fleet of Vessels</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Takes Delivery of Capesize Newbuilding</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NEW YORK, October 14, 2010 &#8211; Baltic Trading Limited (NYSE: BALT), a drybulk company focused on the spot charter market, announced today that it has taken delivery of the Baltic Wolf, a Capesize newbuilding. The Baltic Wolf is the final vessel to be delivered to the Company under agreements signed in February 2010 to acquire four 2009-built Supramax drybulk vessels from an unaffiliated third party as well as two Capesize newbuildings from another unaffiliated third party.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Baltic Wolf is expected to deliver to its charterer, Cargill International S.A., on or about October 15, 2010 to commence a spot market-related time charter for 11 to 13.5 months. The rate for the spot market-related time charter will be based on the average of the daily rates of the Baltic Capesize Index (BCI), an index published by The Baltic Exchange reflecting the average freight rate for four major Capesize time charter routes, as reflected in daily reports. Hire will be paid every 15 days in arrears net of a 5% brokerage commission, which includes 1.25% commission payable to Genco Shipping &amp; Trading Limited. Baltic Trading will not be responsible for voyage expenses, including fuel.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About Baltic Trading Limited</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Baltic Trading Limited is a drybulk company focused on the spot charter market. The Company transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes. Baltic Trading currently owns a fleet of nine drybulk vessels, consisting of two Capesize, four Supramax and three Handysize vessels with a total carrying capacity of approximately 672,000 dwt.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management&#8217;s current expectations and observations. Included among the important factors that, in our view, could cause actual results to differ materially from the forward looking statements contained in this press release are the following: the completion of definitive documentation with respect to charters and other factors listed from time to time under &#8220;Risk Factors&#8221; and other sections of our public filings with the SEC including, without limitation, Baltic Trading&#8217;s registration statement on Form S-1 and reports on Form 10-Q and 8-K.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">###</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````@```#$!`@`0````3@``````
M``!@`````0```&`````!````4&%I;G0N3D54('8U+C`P`/_;`$,`#`@)"PD(
M#`L*"PX-#`X2'A02$1$2)1L<%AXL)RXN*R<K*C$W1CLQ-$(T*BL]4SY"2$I.
M3TXO.U9<54Q;1DU.2__;`$,!#0X.$A`2)!04)$LR*S)+2TM+2TM+2TM+2TM+
M2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2__``!$(`(4`
ME`,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_
MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C
M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-C<X.3I#1$5&1TA)2E-45597
M6%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ
MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X
M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($
M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B
M<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(24I35%565UA96F-D969G
M:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X
MN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR\_3U]O?X^?K_V@`,`P$`
M`A$#$0`_`/4Z***`"BBB@`HHHH`**@N[NWLHC+=31PQCJSL`*Y/5/B/I=IN6
MRCEO9!T*_(GYG_"JC!RV)E)1W.SJO=WMK8Q^9=W,4"^LC!1^M>2:IX_UN_!6
M&1;.,]H1S_WT?Z8KFIYY;F0R7$DDKGJSL2?S-;QPTGN9.LEL>N:A\0]#M,K"
M\MVP[1)@?F<5SUY\4;EB19Z=$@[&5RQ_(8K@:2MEAX+S,76DSJ9_B'K\I.R>
M&('LD(_KFJX\<^(<Y_M$_3RDQ_*N>HK7V<.R(YY=SL+/XCZU`P\\6]ROHR;3
M^8_PKM/#OCC3M:=8'S:79X$<A!#GT4]S[<&O&Z`2#D<$<@BLYT(26FA<:LD]
M=3Z,HKC?AYXE?5[1K&\?==VR@ASUD3U^HZ&NRKAE%Q=F=::DKH****DH****
M`"BFR.L2,\C!44$DDX`%>:>*?B%+,[VNB'RXAP;DCYF_W?0>_7Z54(.;LB92
M45=G;ZUXATW1$S?7*I(1D1+R[?A_4\5P6M?$J]N-T>EPK:QG@2/AG/X=!^M<
M1)(\LC22.SNQR68DDGZTE=L*$8ZO4Y95F]B:[O;F^E,MW/+-)_>=B3^'I4-)
M16^QBW?<****8!1110`4444`%%%%`&MX5U`Z9X@LK@'">8$?W5N#_/->[5\Y
MY(Y'4<BOH33YOM%A;3=3)$C?F,UQXF.J9TT'HT6****Y#I"BBB@##\4V,NL6
MJ:5#<?9_M&6D<+N^1<9'XDK7*_\`"K/^HM_Y`_\`LJW]9\366CZZR72S.RVZ
MA1&H.,L2>_LM0_\`"P])_P">-W_WP/\`&MX*JE[BT.>3I-^\S&_X57_U%O\`
MR!_]E1_PJO\`ZBW_`)`_^RK9_P"%AZ1_SQN_^^!_C1_PL/2/^>-W_P!\#_&J
MO7[/[B;T.YC?\*K_`.HM_P"0/_LJ/^%5_P#46_\`('_V5;/_``L/2/\`GC=_
M]\#_`!H_X6'I'_/&[_[X'^-%Z_9_<%Z'<QO^%5_]1;_R!_\`94?\*K_ZBW_D
M#_[*MG_A8FD?\\KO_O@?XT?\+$TC_GE=_P#?`_QHYJ_9_<'[GN8W_"J_^HM_
MY`_^RH_X57_U%O\`R!_]E6S_`,+$TC_GE=_]\#_&C_A8FD?\\KO_`+X'^-%Z
M_9_<%Z'<QO\`A5?_`%%O_('_`-E1_P`*K_ZBW_D#_P"RK9_X6'I'_/&[_P"^
M!_C1_P`+#TC_`)XW?_?`_P`:+U^S^X+T.YC?\*K_`.HM_P"0/_LJ/^%5_P#4
M6_\`('_V5;/_``L/2/\`GC=_]\#_`!H_X6'I'_/&[_[X'^-%Z_9_<%Z'<QO^
M%6?]1;_R!_\`95VOAY2FB64;-N:*(1D^I7Y?Z5A_\+"TG_GC=_\`?`_QK7\,
M7<5]I"W$.1&\TI4-P0/,:HJ>TM>:-*;A>T#6HHHK$V"BBF3S+!!)*_W8T+'Z
M`4`>/>+;K[7XCU"3.567RQ]%&W^8K(ITDAFD>5_O2,6/U)S_`%IM>[&/+%(\
M2;YI-A1115$!6MX7M!?>(+&!E#)YFY@1D$*,_P!*R:[#X9VWFZQ<7!'$,.`?
M=C_]8UE6ERTVS6BN::1Z!_9=A_SXVW_?I?\`"C^RM/\`^?&V_P"_2_X53\67
M9LO#U[,K;6*;%(X.6.!_.O(OMMW_`,_4_P#W]->=1H2JJ]['H5:T:;M8]I_L
MJP_Y\;;_`+]+_A5:Z\.Z1=J5ET^#GNJ!#^8P:\@%]>`Y%W.".XE-=KX`UZ\N
MKU]/O)GG0QEXW<Y92".,]Q5SP\Z:YD]B(5X3?*UN9/BWPH=%`NK5FDLV;!#<
MF,]OJ/>N8KV?Q-$DWA_4%D^[Y#-^(&1^HKQBNG#5'4CKT.;$TU"6G4****ZC
MF"O4?AM)O\.E?[D[C^1_K7EYZUZ-\+I,Z9>Q_P!V<'\U'^%<N+5Z?S.K"?Q#
MM****\H]0*Q/&=S]E\,W[`X9H_+'_`CM_K6W7&_$ZYV:5:VPZS39/T4'^I%7
M2CS32,ZCY8-GFU%%%>X>*%%%%`!7I/PRMO+TJYN".99L#Z*!_4FO-J]A\'6W
MV3PW8H1AFC\P_5CG^M<F+E:%NYUX17G?L9'Q,N"FD6\"]99LD#T4'^N*\WP?
M[A_*O:[O5-.M9?*N[NWBD`SMD<`XJ+^W-&_Z"-G_`-_5KGHUW3A;EN;U:*G*
M[E8\:2*21@L<<CL>@5237HG@'P]<6!DO[V(Q2R+LCC88(7C)/H>.E=-;:GIU
MQ)LMKRVD<]`D@)-2:C%=36S)97`MYCT=D#C\J57$N:Y;6'2PZ@^:]SG?B#JR
MV6D-9JP\^Z^7;GD)W/\`2O,*T==MKZUU*6/4V9[GKO)R''8CVK.KMH4U3A9:
MG'6FYSN]`HHHK<P"N]^%C_-J<?\`US8?^/5P5=E\,),:M>1_WH`?R;_Z]<^)
M5Z3.C#NU1'I-%%%>0>L%>:?$RZ\W6+:W!R(8=Q'NQ_\`L17I=>-^+;G[7XDU
M"3.567RQ]%&W^8-=6$5ZE^QRXIVIV[F11117JGEA1110!)!$9YHX4^](X4?4
MG%>Z0QK#%'&GW44*/H!7D/@VU^U^)+)2,JCF0_\``1G^>*]=N)A!;RRM]V-"
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MC%U_\<-95E>F_0VHNU1'KM%%%>*>P1SRB""25_NQH6/T`KPJ21IG>5_O2,6/
MU)S7M&O+YNF2VX8J;HK`".H#D*3^1)K!_P"%=Z7_`,_%W_WTO^%=6&JPIIN7
M4Y<13E4LD>9T5Z;_`,*[TO\`Y^+O_OI?\*/^%=Z7_P`_%W_WTO\`A75];IG+
M]5J'F5%>F_\`"N]+_P"?B[_[Z7_"C_A7>E_\_%W_`-]+_A1];IA]5J&'\-84
M&I7=U(RJ(H@@+$#EC_\`8UZ+]HA_Y[1_]]"N5_X5WI7_`#\7?_?2_P"%)_PK
MK2_^?B[_`.^E_P`*Y*LJ=27,Y?@=5)5(1M;\3J_.@_YZQ_\`?0H\^#_GK%_W
MT*Y7_A76E_\`/Q=_]]+_`(4?\*ZTO_GXN_\`OI?\*CEI_P`WX?\`!-.:I_+^
M/_`.DFU*RMU)FO((P.[2`5S.N^.[6V1HM+_TF?&`Y!"+_C^'%+_PKK2O^?B[
M_P"^E_PI?^%=Z7_SWN_^^E_PJH*@G>3;^1$G6:LDD>;SS27$KS3.7E=B69NI
M-1UZ9_PKO2_^?B[_`.^E_P`*/^%=Z7_S\7?_`'TO^%=GUJF<GU:H>9T5Z;_P
MKO2_^?B[_P"^E_PH_P"%=Z7_`,_%W_WTO^%'UNF'U6H>9UI>&9/*\0Z:W3]^
MJ_F<?UKN?^%=Z7_S\7?_`'TO^%17/@JPTN,7T$]PTMLZ2*'8$9##VI2Q-.46
MEU''#U(N[Z':T4&BO,/3.7\;:]'H0TZ5X3/F8ML#8SA2,_FPK"_X6G'_`-`I
MO^_X_P#B:SOBO=^;K=K;`\00[B/=C_\`6%<3FNRG1C*";.2I5DI61Z1_PM2/
M_H$O_P!_Q_\`$T?\+4C_`.@2_P#W_'_Q->;45K["GV(]M,])_P"%J1_]`E_^
M_P"/_B:/^%J1_P#0)?\`[_C_`.)KS:BCV%/L'MIGI/\`PM2/_H$O_P!_Q_\`
M$T?\+4C_`.@2_P#W_'_Q->;44>PI]@]M,])_X6I'_P!`E_\`O^/_`(FC_A:D
M?_0)?_O^/_B:\VHH]A3[![:9Z3_PM2/_`*!+_P#?\?\`Q-'_``M2/_H$O_W_
M`!_\37FU%'L*?8/;3/2?^%J1_P#0)?\`[_C_`.)H_P"%J1_]`E_^_P"/_B:\
MVHH]A3[![:9Z3_PM2/\`Z!+_`/?\?_$T?\+4C_Z!+_\`?\?_`!->;44>PI]@
M]M,])_X6I'_T"6_[_C_XFH+[XEQW=G/;_P!F.GFQE-WG@XR.O2O/:0]#1[&G
MV'[69]&1N'C5LYW`&BJND.)M)LI.N^!&_-117GG9<QM5\%Z5K.H2WMW]H,TF
M`=LF!P`/2JG_``K?0O2Y_P"_O_UJ**I5)+J+DCV%_P"%;Z%Z7/\`W]_^M1_P
MK?0O2Y_[^_\`UJ**?M)]P]G'L'_"M]"]+G_O[_\`6H_X5OH7I<_]_?\`ZU%%
M'M)]P]G'L'_"M]"]+G_O[_\`6H_X5OH7I<_]_?\`ZU%%'M)]P]G'L'_"M]"]
M+G_O[_\`6H_X5OH7I<_]_?\`ZU%%'M)]P]G'L'_"M]"]+G_O[_\`6H_X5OH7
MI<_]_?\`ZU%%'M)]P]G'L'_"M]"]+G_O[_\`6H_X5OH7I<_]_?\`ZU%%'M)]
MP]G'L'_"M]"]+G_O[_\`6H_X5OH7I<_]_?\`ZU%%'M)]P]G'L'_"M]"]+G_O
M[_\`6H_X5OH7I<_]_?\`ZU%%'M)]P]G'L=18VL=E9PVL);RX$"+N.3@#`S11
%168S_]D_
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
