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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

2014 MIP Plan

Stock Awards

Summary of nonvested stock awards

		Year Ended December 31,
		2017					2016					2015
				Weighted					Weighted					Weighted
		Number of		Average Grant			Number of		Average Grant			Number of		Average Grant
		Shares		Date Price			Shares		Date Price			Shares		Date Price
Outstanding at January 1		9,255		$	200.00		74,040		$	200.00		111,060		$	200.00
Granted		—			—		—			—		—			—
Vested		(9,255)			200.00		(64,785)			200.00		(37,020)			200.00
Forfeited		—			—		—			—		—			—
Outstanding at December 31		—		$	—		9,255		$	200.00		74,040		$	200.00

Schedule of nonvested stock amortization expense

		For the Years Ended December 31,
		2017			2016			2015
General and administrative expenses		$	368		$	5,795		$	10,585

2015 EIP Plan | Stock Options

Stock Awards

Schedule of nonvested stock amortization expense

	For the Years Ended December 31,
	2017			2016			2015
General and administrative expenses	$	512		$	—		$	—

Schedule of stock option activity

				Weighted			Weighted
		Number of		Average Exercise			Average Fair
		Options		Price			Value
Outstanding at January 1, 2017 - Unvested		—		$	—		$	—
Granted		133,000			11.13			6.41
Exercisable		(44,333)			11.13			6.41
Exercised		—			—			—
Forfeited		—			—			—
Outstanding at December 31, 2017 - Unvested		88,667		$	11.13		$	6.41

The following table summarizes certain information about the options outstanding as of December 31, 2017:

Options Outstanding and Unvested,

Options Outstanding and Exercisable,

December 31, 2017

December 31, 2017

Weighted

Weighted

Weighted

Average

Weighted

Average

Weighted

Average

Exercise Price of

Average

Remaining

Average

Remaining

Outstanding

Number of

Exercise

Contractual

Number of

Exercise

Contractual

Options

Options

Price

Life

Warrants

Price

Life

$

11.13

88,667

$

11.13

5.23

44,333

$

11.13

5.23

2015 EIP Plan | Restricted Stock Units

Stock Awards

Summary of nonvested restricted stock units

		Year Ended December 31,
		2017					2016					2015
				Weighted					Weighted					Weighted
		Number of		Average Grant			Number of		Average Grant			Number of		Average Grant
		RSUs		Date Price			RSUs		Date Price			RSUs		Date Price
Outstanding at January 1		66,666		$	5.10		5,821		$	71.50		—		$	—
Granted		317,595			11.05		66,666			5.10		7,440			71.18
Vested		(164,132)			8.68		(5,821)			71.50		(1,619)			70.00
Forfeited		—			—		—			—		—			—
Outstanding at December 31		220,129		$	11.01		66,666		$	5.10		5,821		$	71.50

The total fair value of the RSUs that vested during the years ended December 31, 2017, 2016 and 2015 was $1,858, $30 and $116, respectively. The total fair value is calculated as the number of shares vested during the period multiplied by the fair value on the vesting date.    On February 17, 2016, the vesting of 2,328 outstanding RSUs was accelerated upon the resignation of two members on the Company’s Board of Directors.

The following table summarizes certain information of the RSUs unvested and vested as of December 31, 2017:

Unvested RSUs							Vested RSUs
December 31, 2017							December 31, 2017
					Weighted
		Weighted			Average				Weighted
		Average			Remaining				Average
Number of		Grant Date			Contractual		Number of		Grant Date
RSUs		Price			Life		RSUs		Price
220,129		$	11.01		1.63		171,572		$	11.39

Schedule of nonvested stock amortization expense

		For the Years Ended December 31,
		2017			2016			2015
General and administrative expenses		$	2,241		$	405		$	337

2015 EIP Plan | Restricted Stock

Stock Awards

Summary of nonvested stock awards

		Year Ended December 31,
		2017					2016
				Weighted					Weighted
		Number of		Average Grant			Number of		Average Grant
		Shares		Date Price			Shares		Date Price
Outstanding at January 1		13,605		$	5.20		—		$	—
Granted		—			—		61,224			5.20
Vested		(6,803)			5.20		(47,619)			5.20
Forfeited		—			—		—			—
Outstanding at December 31		6,802		$	5.20		13,605		$	5.20

Schedule of nonvested stock amortization expense

		For the Years Ended December 31,
		2017			2016			2015
General and administrative expenses		$	30		$	277		$	—

Baltic Trading Plan

Stock Awards

Summary of nonvested stock awards

		Year Ended December 31,
		2015
		Number
		of Baltic		Weighted
		Trading		Average
		Common		Grant Date
		Shares		Price
Outstanding at January 1		1,941,844		$	3.80
Granted		—			—
Vested		(1,941,844)			3.80
Forfeited		—			—
Outstanding at December 31		—		$	—

Schedule of nonvested stock amortization expense

		Year
		Ended
		December 31,
		2015
General and administrative expenses		$	5,273

Warrants | 2014 MIP Plan

Stock Awards

Schedule of nonvested stock amortization expense

		For the Years Ended December 31,
		2017			2016			2015
General and administrative expenses		$	902		$	14,203		$	25,941

Summary of warrant activity and warrants outstanding

		Year Ended December 31,
		2017								2016								2015
				Weighted			Weighted					Weighted			Weighted					Weighted			Weighted
				Average			Average					Average			Average					Average			Average
		Number of		Exercise			Fair			Number of		Exercise			Fair			Number of		Exercise			Fair
		Warrants		Price			Value			Warrants		Price			Value			Warrants		Price			Value
Outstanding at January 1 - Unvested		713,122		$	303.12		$	6.36		5,704,974		$	303.12		$	6.36		8,557,461		$	303.12		$	6.36
Granted		—			—			—		—			—			—		—			—			—
Exercisable		(713,122)			303.12			6.36		(4,991,852)			303.12			6.36		(2,852,487)			303.12			6.36
Exercised		—			—			—		—			—			—		—			—			—
Forfeited		—			—			—		—			—			—		—			—			—
Outstanding at December 31 - Unvested		—		$	—		$	—		713,122		$	303.12		$	6.36		5,704,974		$	303.12		$	6.36

The following table summarizes certain information about the warrants outstanding as of December 31, 2017:

Warrants Outstanding and Unvested,

Warrants Outstanding and Exercisable,

December 31, 2017

December 31, 2017

Weighted

Weighted

Weighted

Average

Weighted

Average

Weighted

Average

Exercise Price of

Average

Remaining

Average

Remaining

Outstanding

Number of

Exercise

Contractual

Number of

Exercise

Contractual

Warrants

Warrants

Price

Life

Warrants

Price

Life

$

303.12

—

$

—

—

8,557,461

$

303.12

2.60

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