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OTHER ASSETS, NET

3 Months Ended

Mar. 31, 2013

OTHER ASSETS, NET

OTHER ASSETS, NET

15 - OTHER ASSETS, NET

Other assets consist of deferred financing costs, which include fees, commissions and legal expenses associated with securing loan facilities and other debt offerings and amending existing loan facilities. Total net deferred financing costs consist of the following as of March 31, 2013 and December 31, 2012:

		March 31, 2013			December 31, 2012
2007 Credit Facility		$	29,568		$	29,568
$100 Million Term Loan Facility		1,783			1,783
$253 Million Term Loan Facility		4,708			4,708
2010 Notes		3,637			3,637
2010 Baltic Trading Credit Facility		3,027			3,027
Total deferred financing costs		42,723			42,723
Less: accumulated amortization		14,997			13,162
Total		$	27,726		$	29,561

Amortization expense for deferred financing costs for the three months ended March 31, 2013 and 2012 was $1,835 and $980, respectively.  This amortization expense is recorded as a component of interest expense in the Condensed Consolidated Statements of Operations.

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Disclosure of all information related to deferred financing costs.

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