NONVESTED STOCK AWARDS (Tables)

3 Months Ended

Mar. 31, 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	—		—
Vested	—		—
Forfeited	(6,750	)	7.02
Outstanding at March 31, 2013	1,102,012		$	9.48

Schedule of nonvested stock amortization expense

	Three Months Ended March 31,
	2013		2012
General, administrative and management fees	$	769	$	1,078

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	—		—
Vested	(116,500	)	14.00
Forfeited	—		—
Outstanding at March 31, 2013	547,749		$	6.37

Schedule of nonvested stock amortization expense

	Three Months Ended March 31,
	2013		2012
General, administrative and management fees	$	464	$	572