<SUBMISSION>
<ACCESSION-NUMBER>0001140361-12-047742
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20121115
<FILING-DATE>20121116
<DATE-OF-FILING-DATE-CHANGE>20121116
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>WOBENSMITH JOHN C
<CIK>0001333673
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-34648
<FILM-NUMBER>121212042
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>35 WEST 56TH STREET
<CITY>NEW YORK
<STATE>NY
<ZIP>10019
</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, 12TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10171
<PHONE>646-443-8550
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>299 PARK AVENUE, 12TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10171
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-11-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001333673</rptOwnerCik>
            <rptOwnerName>WOBENSMITH JOHN C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BALTIC TRADING LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>299 PARK AVENUE, 12TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10171</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Pres, CFO, Secy &amp; Treasurer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2012-11-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5250</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.9899</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>145635</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares were sold under instructions given in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in order to satisfy the reporting person's tax obligations for certain restricted shares of common stock of the issuer that vested on November 15, 2012.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.955 to $3.08, inclusive. The reporting person undertakes to provide to Baltic Trading Limited, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ John C. Wobensmith</signatureName>
        <signatureDate>2012-11-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
