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Upon completion of the acquisition, Baltic Trading will own 11 drybulk vessels, consisting of two Capesize vessels, four Supramax vessels and five Handysize vessels with a total carrying capacity of approximately 736,000 dwt and an average age of approximately 3.5 years. Baltic Trading plans to finance this acquisition in part through the proceeds from its $23.1 million share offering completed on May 28, 2013. For the remainder of the purchase price, the Company has obtained a commitment for approximately $20 million of commercial bank financing from a global lending institution, which is subject to definitive loan documentation. John C. Wobensmith, President and Chief Financial Officer, commented, "We are pleased to take advantage of favorable asset prices with the acquisition of two high-quality Handysize vessels, which will expand our modern fleet approximately 10% on a tonnage basis. This acquisition, our first in the past three years, will enhance our fleet profile and strengthen our ability to benefit from the positive long-term demand for the global transportation of drybulk goods. Consistent with our strategy, we intend to employ the Baltic Fox and the Baltic Hare in a spot market-related vessel pool, enabling our Company to take advantage of a potentially rising freight rate environment and maximize utilization. We remain committed to pursuing attractive growth opportunities that expand our future earnings and dividend potential while maintaining an efficient operating platform and low debt levels." The following table sets forth information about the two vessels to be acquired by the Company: 
(1) We have reached an agreement to enter these vessels into the Clipper Logger Pool a vessel pool trading in the spot market, whereby Clipper Group acts as the pool manager. (2) The dates for vessels being delivered in the future are estimates based on guidance received from the sellers. 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 three Handysize vessels with an aggregate carrying capacity of approximately 672,000 dwt. After the expected delivery of the two Handysize vessels that Baltic Trading has agreed to acquire, Baltic Trading will own 11 drybulk vessels, consisting of two Capesize, four Supramax and five Handysize vessels with a total carrying capacity of approximately 736,000 dwt. Baltic Trading Limited Press Release 
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Baltic Trading Limited Announces Agreement to Acquire Two Handysize Vessels