AMENDMENT NO. 3 TO MANAGEMENT AGREEMENT
Exhibit 10.1
AMENDMENT NO. 3 TO MANAGEMENT AGREEMENT
THIS AMENDMENT NO. 3 TO MANAGEMENT AGREEMENT is dated as of August 21, 2013 and is by and between Baltic Trading Limited, a ▇▇▇▇▇▇▇▇ Islands corporation (the “Company”), and Genco Shipping & Trading Limited, a ▇▇▇▇▇▇▇▇ Islands corporation (the “Manager”) and is entered into pursuant to Section 2.8 of the Management Agreement between the Company and the Manager dated as of March 15, 2010 (the “Agreement”) solely for purposes of updating Schedule A to the Agreement.
Schedule A to the Agreement is hereby amended and restated in its entirety as follows:
SCHEDULE A
VESSELS
(As of August 21, 2013)
This Schedule may be updated from time to time by the parties in accordance with Section 2.8.
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Vessel
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Capacity
(dwt)
|
Built
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Current
Employment
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Current
Charterer
|
Expiration
of Charter
|
Flag
|
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Capesize
|
|
|
|
|
|
|
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Baltic Bear
|
177,717
|
2010
|
Spot market-related time charter
|
Swissmarine Services S.A.
|
February 2015
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Wolf
|
177,752
|
2010
|
Spot market-related time charter
|
▇▇▇▇▇▇▇ International S.A.
|
May 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Supramax
|
|
|
|
|
|
|
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Baltic Leopard
|
53,447
|
2009
|
Spot market-related time charter
|
Resource Marine PTE Ltd. (part of the Macquarie group of companies)
|
February 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Panther
|
53,351
|
2009
|
Spot pool
|
Bulkhandling Handymax A/S Pool
|
May 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Cougar
|
53,432
|
2009
|
Spot pool
|
Bulkhandling Handymax A/S Pool
|
May 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Jaguar
|
53,474
|
2009
|
Spot market-related time charter
|
Resource Marine PTE Ltd. (part of the Macquarie group of companies)
|
April 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Handysize
|
|
|
|
|
|
|
|
Baltic Wind
|
34,409
|
2009
|
Spot market-related time charter
|
▇▇▇▇▇▇▇ International S.A.
|
September ▇▇▇▇
|
▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
|
▇▇▇▇▇▇ ▇▇▇▇
|
34,403
|
2010
|
Spot market-related time charter
|
▇▇▇▇▇▇▇ International S.A.
|
February 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Breeze
|
34,386
|
2010
|
Spot market-related time charter
|
▇▇▇▇▇▇▇ International S.A.
|
July 2014
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Fox(1)
|
31,883
|
2010
|
Spot pool
|
Clipper Logger Pool(2)
|
September 2015
|
▇▇▇▇▇▇▇▇ Islands
|
|
Baltic Hare(1)
|
31,887
|
2009
|
Spot pool
|
Clipper Logger Pool(2)
|
September 2015
|
▇▇▇▇▇▇▇▇ Islands
|
| (1) | These vessels have not yet been delivered to the Company but will be subject to the engagement under the Agreement upon such delivery. |
| (2) | These chartering arrangements are to commence following delivery of the vessel to the Company. |
Except as amended hereby, the Agreement remains in full force and effect.
[Signature page follows.]
IN WITNESS WHEREOF, the parties hereto have executed this Amendment to Management Agreement as of the date first set forth above.
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BALTIC TRADING LIMITED
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GENCO SHIPPING & TRADING LIMITED
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By:
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/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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By:
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/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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Name:
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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Name:
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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Title:
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President and Chief Financial Officer
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Title:
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Chief Financial Officer
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