Baltic Trading Limited Announces Exercise of Underwriters'
Option to Purchase Additional Shares

New York, Nov. 14, 2013

Baltic Trading Limited ("Baltic Trading") (NYSE: BALT) today announced that the underwriters of the recently announced offering of shares of its common stock have fully exercised their option to purchase additional shares of the Company's common stock, electing to purchase an additional 1,650,000 shares from the Company. The offering was made pursuant to Baltic Trading's registration statement (including a prospectus and related prospectus supplement for the offering). The public offering price of the shares is $4.60 per share. With the sale of these additional shares, the total number of shares sold in the offering will be 12,650,000, and total gross proceeds from the offering will be approximately $58.2 million.

Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC, Cowen and Company, LLC, and Clarkson Capital Markets LLC are acting as co-managers for the offering.

The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (the "SEC"). The offering was made only by means of a prospectus supplement and an accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus were filed with the SEC and are available on the SEC's website, www.sec.gov. Alternatively, copies may be obtained from Jefferies LLC, Attention: Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022 (or by email to Prospectus_Department@Jefferies.com) or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department (or by email: prospectus@morganstanley.com).

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. These securities will be offered only by means of a prospectus, including the prospectus supplement relating to the shares of common stock, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Baltic Trading Limited
Baltic Trading Limited is a drybulk company focused on the spot charter market. Baltic Trading transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes. Baltic Trading's fleet consists of two Capesize, four Supramax and five Handysize vessels with an aggregate carrying capacity of approximately 736,000 dwt. After the expected delivery of the two committed Ultramax newbuildings and two Capesize vessels that Baltic Trading has agreed to acquire, Baltic Trading will own 15 drybulk vessels, consisting of four Capesize, two Ultramax, four Supramax and five Handysize vessels with a total carrying capacity of approximately 1,223,000 dwt.

Baltic Trading Limited Press Release