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NONVESTED STOCK AWARDS (Tables)

9 Months Ended

Sep. 30, 2012

GS&T Plan

Nonvested Stock Awards

Summary of nonvested stock awards

		Number of Shares		Weighted Average Grant Date Price
Outstanding at January 1, 2012		936,787		$	14.06
Granted		15,000		3.50
Vested		(15,000	)	8.00
Forfeited		(1,500	)	6.39
Outstanding at September 30, 2012		935,287		$	14.00

Schedule of nonvested stock amortization expense

		Three Months Ended September 30,						Nine Months Ended September 30,
		2012			2011			2012			2011
General, administrative and management fees		$	1,069		$	1,472		$	3,214		$	4,443

Baltic Trading Plan | Baltic Trading Limited

Nonvested Stock Awards

Summary of nonvested stock awards

		Number of Baltic Trading Common Shares		Weighted Average Grant Date Price
Outstanding at January 1, 2012		545,750		$	11.60
Granted		12,500		3.86
Vested		(129,000	)	13.31
Forfeited		—		—
Outstanding at September 30, 2012		429,250		$	10.86

Schedule of nonvested stock amortization expense

		Three Months Ended September 30,						Nine Months Ended September 30,
		2012			2011			2012			2011
General, administrative and management fees		$	403		$	623		$	1,377		$	2,174

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

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-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

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