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LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2012

LONG-TERM DEBT

Schedule of long-term debt

		December 31, 2012			December 31, 2011
2007 Credit Facility		$	1,055,912		$	1,174,500
$ 100 Million Term Loan Facility		75,484			90,869
$ 253 Million Term Loan Facility		180,793			221,393
2010 Baltic Trading Credit Facility		101,250			101,250
Less: Current portion		—			(185,077		)
Long-term debt		$	1,413,439		$	1,402,935

Long-term debt

Schedule of effective interest rate and the range of interest rates on the debt

		Year ended December 31,
		2012		2011		2010
Effective Interest rate		4.68	%	4.42	%	4.64	%
Range of Interest Rates (excluding impact of swaps and unused commitment fees)		3.21% to 4.63	%	2.19% to 3.52	%	2.25% to 3.60	%

2007 Credit Facility

Long-term debt

Schedule of repayment of the outstanding debt

Year Ending December 31,		Total
2013		$	—
2014		192,780
2015		192,780
2016		144,585
2017		525,767
Total debt		$	1,055,912

$100 Million Term Loan Facility

Long-term debt

Schedule of repayment of the outstanding debt

Year Ending December 31,		Total
2013		$	—
2014		7,692
2015		7,692
2016		7,692
2017		52,408
Total debt		$	75,484

$253 Million Term Loan Facility

Long-term debt

Schedule of repayment of the outstanding debt

Year Ending December 31,		Total
2013		$	—
2014		20,300
2015		160,493
Total debt		$	180,793

2010 Baltic Trading Credit Facility

Long-term debt

Schedule of repayment of the outstanding debt

Year Ending December 31,		Total
2013		$	—
2014		—
2015		1,250
2016		100,000
Total debt		$	101,250

X

- Definition

Tabular disclosure of effective interest rate associated with the interest expense for the entity's debt facilities, including the rate differential between the pay fixed, receive variable rate on the interest rate swap agreements that were in effect and the cost associated with unused commitment fees. Additionally, it includes the range of interest rates on the debt, excluding the impact of swaps and unused commitment fees.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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