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OFFSHORE WIND
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March 10, 2010

Baltic Trading prices IPO

Baltic Trading Limited has priced its initial public offering of 16,300,000 shares of its common stock, par value $0.01 per share, at $14.00 per share.

Baltic Trading is a Marshall Islands company recently formed by Genco Shipping & Trading Limited.

It plans to conduct a shipping business focused on the dry bulk industry spot market.

Baltic Trading plans to use the proceeds of the offering, plus a $75 million capital contribution from Genco, to acquire its initial fleet of two Capesize newbuildings and four 2009-built Supramaxes expected to be delivered between April and October 2010, and for working capital and general corporate purposes, which may include future vessel purchases.

The offering is expected to close on March 15, 2010. The underwriters have a 30-day option to purchase up to an additional 2,445,000 shares of common stock to cover any over-allotments. Baltic Trading's common stock is scheduled to begin trading on March 10, 2010 on the New York Stock Exchange under the symbol "BALT."

Morgan Stanley & Co. Incorporated and Dahlman Rose & Company, LLC are acting as joint book-running managers and representatives of the underwriters, who include Jefferies & Company, Inc., Lazard Capital Markets LLC and DnB NOR Markets, Inc.


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