Baltic Trading Limited Completes Acquisition of Two Handysize Vessels

    Baltic Trading Limited Completes Acquisition of Two Handysize Vessels

Takes Delivery of the Baltic Fox and Baltic Hare; Closes New $22 Million
Credit Facility and Amends 2010 Credit Facility

PR Newswire

NEW YORK, Sept. 9, 2013

NEW YORK, Sept. 9, 2013 /PRNewswire/ --Baltic Trading Limited (NYSE: BALT)
announced today that it has taken delivery of the 2010-built Baltic Fox and
the 2009-built Baltic Hare, two Handysize vessels of approximately 32,000 dwt
that the Company previously agreed to acquire in July 2013. Both vessels have
entered into the Clipper Logger Pool, a spot market-related Handysize pool
operated by Clipper Bulk.

John C. Wobensmith, President and Chief Financial Officer, commented, "We are
pleased to take delivery of the Baltic Fox and the Baltic Hare, as planned,
and enter the vessels into a spot market-related vessel pool consistent with
our fleet deployment strategy. The Baltic Fox and the Baltic Hare combine to
expand our modern, high-quality fleet by approximately 10% on a tonnage basis
while further strengthening our position in the global transportation of
essential commodities and increasing our long-term earnings potential."

The Company also has executed a $22 million credit agreement with DVB Bank SE,
as previously announced on July 8, 2013. Under the terms of the six-year
facility, amounts borrowed will bear interest at LIBOR plus a margin of 3.35%.
The credit facility is to be repaid in 24 quarterly repayment installments of
$375,000 each, the first of which is payable in December 2013, and a balloon
payment of approximately $13 million payable concurrently with the last
repayment installment. The Company used the entire proceeds from the new
facility as well as proceeds from its May 2013 equity offering to fund the
acquisition of the Baltic Fox and the Baltic Hare.

Additionally, Baltic Trading has entered into an agreement to amend provisions
of its 2010 senior secured revolving credit facility. Under the terms of the
amended credit facility, underwritten  by Nordea Bank Finland plc and
Skandinaviska Enskilda Banken AB, the Company is permitted to incur additional
indebtedness, subject to a new leverage covenant under which the ratio of the
Company's total financial indebtedness to value adjusted total assets must not
exceed 70%. In addition, the facility's commitment amount decreased from $125
million to $110 million and will be further reduced in three consecutive
semi-annual reductions of $5 million commencing on May 30, 2015.

Mr. Wobensmith added, "In support of our growth initiatives, management has
taken active measures to increase Baltic Trading's financial flexibility by
closing a new $22 million credit facility with a global lending institution
and amending our 2010 credit facility under favorable terms to allow for the
incurrence of additional debt going forward. We appreciate the support that we
have received from our expanded lending group and remain focused on preserving
a sound capital structure as we pursue additional opportunities to take
advantage of an attractive acquisition environment."

Additional information pertaining to this press release is available in the
Company's current reports on Form 8-K filed today and September 5, 2013 with
the Securities and Exchange Commission.

About Baltic Trading Limited
Baltic Trading Limited is a drybulk company focused on the spot charter
market. The Company transports iron ore, coal, grain, steel products and other
drybulk cargoes along global shipping routes. Baltic Trading currently owns 11
drybulk vessels, consisting of two Capesize, four Supramax and five Handysize
vessels with a total carrying capacity of approximately 736,000 dwt.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's current
expectations and observations. Such statements are subject to various risks,
uncertainties and assumptions, including market conditions. Factors that, in
our view, could cause actual results to differ materially from the forward
looking statements contained in this press release are the following: (i)
declines in demand or rates in the drybulk shipping industry; (ii) prolonged
weakness in drybulk shipping rates; (iii) changes in the supply of or demand
for drybulk products, generally or in particular regions; (iv) changes in the
supply of drybulk carriers including newbuilding of vessels or lower than
anticipated scrapping of older vessels; (v) changes in rules and regulations
applicable to the cargo industry, including, without limitation, legislation
adopted by international organizations or by individual countries and actions
taken by regulatory authorities; (vi) increases in costs and expenses
including but not limited to: crew wages, insurance, provisions, lube, oil,
bunkers, repairs, maintenance and general, administrative, and management fee
expenses; (vii) whether our insurance arrangements are adequate; (viii)
changes in general domestic and international political conditions; (ix) acts
of war, terrorism, or piracy; (x) changes in the condition of the Company's
vessels or applicable maintenance or regulatory standards (which may affect,
among other things, our anticipated drydocking or maintenance and repair
costs) and unanticipated drydock expenditures; (xi) the amount of offhire time
needed to complete repairs on vessels and the timing and amount of any
reimbursement by our insurance carriers for insurance claims, including
offhire days; (xii) the Company's acquisition or disposition of vessels;
(xiii) our ability to leverage Genco's relationships in the shipping industry;
(xiv) the completion of definitive documentation with respect to charters; and
other factors listed from time to time in our public filings with the
Securities and Exchange Commission, including, without limitation, our Annual
Report on Form 10-K for the year ended December 31, 2012 and our subsequent
reports on Form 10-Q and Form 8-K. These forward-looking statements speak only
as of the date on which they are made, and we undertake no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

SOURCE Baltic Trading Limited

Contact: John C. Wobensmith, President and Chief Financial Officer, Baltic
Trading Limited, (646) 443-8555
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