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 September 30, 2013 and December 31, 2012:

	September 30, 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		3,339		3,027
2013 Baltic Trading Credit Facility		507		—
Total deferred financing costs		43,542		42,723
Less: accumulated amortization		20,025		13,162
Total	$	23,517	$	29,561

Amortization expense for deferred financing costs for the three months ended September 30, 2013 and 2012 was $3,171 and $1,596, respectively. Amortization expense for deferred financing costs for the nine months ended September 30, 2013 and 2012 was $6,862 and $3,555, respectively. This amortization expense is recorded as a component of interest expense in the Condensed Consolidated Statements of Operations.