SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15 – SUBSEQUENT EVENTS On August 5, 2020, the Company announced a regular quarterly dividend of $0.02 per share to be paid on or about August 25, 2020 to shareholders of record as of August 17, 2020. The aggregate amount of the dividend is expected to be approximately $0.8 million, which the Company anticipates will be funded from cash on hand at the time the payment is to be made. On July 31, 2020, the Company completed the sale of the Baltic Breeze, a 2010-built Handysize vessel, to a third party for $7,900 less a 2.0% broker commission payable to a third party. Additionally, on July 7, 2020, the Company completed the sale of the Baltic Wind, a 2009-built Handysize vessel, to a third party for $7,750 less a 2.0% broker commission payable to a third party. The vessel assets for the Baltic Breeze and Baltic Wind have been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2020. Refer also to Note 4 — Vessel Acquisitions and Dispositions. The Company expects to record a net loss on the sale of the Baltic Breeze during the third quarter of 2020 of between approximately $200 and $400. The Company expects to record a net loss on the sale of the Baltic Wind during the third quarter of 2020 of between $200 and $400. These vessels served as collateral under the $495 Million Credit Facility; therefore, $4,797 and $4,575 of the net proceeds received from the sale of the Baltic Breeze and Baltic Wind, respectively, will remain classified as restricted cash for 360 days following the sale date. Those amounts can be used towards a loan prepayment under the facility or for the financing of a replacement vessel or vessels meeting certain requirements and added as collateral under the facility. If such a replacement vessel is not added as collateral within such 360 day period, the Company will be required to use these proceeds as a loan prepayment. On July 15, 2020, the Company issued 42,642 restricted stock units to certain members of the Board of Directors. The aggregate fair value of these restricted stock units was $255. The awards will vest on the earlier of the date of the next annual shareholders meeting of the Company and the date that is fourteen months after the grant date.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2020

15 – SUBSEQUENT EVENTS

On August 5, 2020, the Company announced a regular quarterly dividend of $0.02 per share to be paid on or about August 25, 2020 to shareholders of record as of August 17, 2020. The aggregate amount of the dividend is expected to be approximately $0.8 million, which the Company anticipates will be funded from cash on hand at the time the payment is to be made.

On July 31, 2020, the Company completed the sale of the Baltic Breeze, a 2010-built Handysize vessel, to a third party for $7,900 less a 2.0% broker commission payable to a third party. Additionally, on July 7, 2020, the Company completed the sale of the Baltic Wind, a 2009-built Handysize vessel, to a third party for $7,750 less a 2.0% broker commission payable to a third party. The vessel assets for the Baltic Breeze and Baltic Wind have been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2020. Refer also to Note 4 — Vessel Acquisitions and Dispositions. The Company expects to record a net loss on the sale of the Baltic Breeze during the third quarter of 2020 of between approximately $200 and $400. The Company expects to record a net loss on the sale of the Baltic Wind during the third quarter of 2020 of between $200 and $400.

These vessels served as collateral under the $495 Million Credit Facility; therefore, $4,797 and $4,575 of the net proceeds received from the sale of the Baltic Breeze and Baltic Wind, respectively, will remain classified as restricted cash for 360 days following the sale date. Those amounts can be used towards a loan prepayment under the facility or for the financing of a replacement vessel or vessels meeting certain requirements and added as collateral under the facility. If such a replacement vessel is not added as collateral within such 360 day period, the Company will be required to use these proceeds as a loan prepayment.

On July 15, 2020, the Company issued 42,642 restricted stock units to certain members of the Board of Directors. The aggregate fair value of these restricted stock units was $255. The awards will vest on the earlier of the date of the next annual shareholders meeting of the Company and the date that is fourteen months after the grant date.