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NONVESTED STOCK AWARDS (Tables)

6 Months Ended

Jun. 30, 2013

2005 and 2012 GS&T Plans

Nonvested Stock Awards

Summary of nonvested stock awards

		Number of Shares		Weighted Average Grant Date Price
Outstanding at January 1, 2013		1,108,762		$	9.47
Granted		200,634		1.57
Vested		(70,000	)	2.86
Forfeited		(9,750	)	5.69
Outstanding at June 30, 2013		1,229,646		$	8.58

Schedule of nonvested stock amortization expense

		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2013			2012			2013			2012
General, administrative, and management fees		$	796		$	1,068		$	1,565		$	2,145

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, 2013		664,249		$	7.70
Granted		59,680		3.77
Vested		(166,500	)	10.76
Forfeited		—		—
Outstanding at June 30, 2013		557,429		$	6.37

Schedule of nonvested stock amortization expense

		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2013			2012			2013			2012
General, administrative, and management fees		$	351		$	402		$	815		$	974

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- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

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