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BALT > SEC Filings for BALT > Form 8-K on 2-May-2014All Recent SEC Filings

Show all filings for BALTIC TRADING LTD

Form 8-K for BALTIC TRADING LTD


2-May-2014

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure.

Baltic Trading Limited (the "Company") disclosed today that its estimated daily vessel operating expenses ("DVOE") for the quarter ended March 31, 2014 were approximately $5,600 per vessel per day across its entire fleet, compared to a budgeted daily amount of $5,400 for the year. The variance is due to the timing and amount of drydocking expenses, including the weighting of such expenses over the first quarter as compared to a year, resulting in relatively higher daily expenses for such quarter as compared to lower anticipated daily expenses for the second half of 2014; completion of the Baltic Cougar's drydocking in the first quarter of 2014 rather than the fourth quarter of 2013 as the Company had contemplated in its vessel operating expense budgets; and higher than budgeted expense for certain items in the drydockings. Such estimate is based on preliminary results for the quarter and is subject to change. The Company believes daily vessel operating expenses are best measured for comparative purposes over a 12­month period in order to take into account all of the expenses that each vessel in its fleet will incur over a full year of operation. The Company has not revised its original DVOE budget for the year.

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