Baltic Trading Limited conducts shipping business focused on the drybulk industry spot market. The Company was formed by Genco Shipping & Trading Limited (Genco), an international drybulk shipping company. The Company's fleet consists of two Capesize vessels, four Supramax vessels and three Handysize vessels with an aggregate carrying capacity of approximately 672,000 deadweight tons. Its fleet contains three groups of sister ships, which are vessels of virtually identical sizes and specifications. It operates a fleet of drybulk ships that transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. As of December 31, 2012, the average age of the vessels in its fleet was approximately three years. Genco provides us with commercial and strategic management of its fleet. As of March 1, 2013, all of its vessels were employed under spot market-related time charters or short-term time charters.