UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Baltic Trading Limited
(Name of Issuer)
Common Stock
(Title of Class of Securities)
Y0553W103
(CUSIP Number)
December 31, 2011
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. Y0553W103
1. Names of Reporting Person
Duke Buchan III
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
United States
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
IN
CUSIP No. Y0553W103
1. Names of Reporting Person
Hunter Global Investors L.P.
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
IA
CUSIP No. Y0553W103
1. Names of Reporting Person
Hunter Global Associates L.L.C.
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
OO
CUSIP No. Y0553W103
1. Names of Reporting Person
Hunter Global Investors Fund I L.P.
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
PN
CUSIP No. Y0553W103
1. Names of Reporting Person
Hunter Global Investors Offshore Fund Ltd.
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
Cayman Islands
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
CO
CUSIP No. Y0553W103
1. Names of Reporting Person
Hunter Global Investors SRI Fund Ltd.
2. Check the Appropriate Box if a Member Of a Group
[X] (a)
[ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization
Cayman Islands
5. Sole Voting Power: 0
Shares
Beneficially 6. Shared Voting Power: 0
Owned by
Each Reporting 7. Sole Dispositive Power: 0
Person With
8. Shared Dispositive Power: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
0.0%
12. Type of Reporting Person
CO
Item 1. (a) Name of Issuer:
The name of the issuer is Baltic Trading Limited (the "Issuer").
Item 1. (b) Address of Issuer's Principal Executive Offices:
The Issuer's principal executive offices are located at 299 Park
Avenue, 20th Floor, New York, New York 10171.
Item 2. (a) Name of Person Filing:
This statement is filed by:
(i) Duke Buchan III ("Mr. Buchan") (IN), who is the managing
member of Associates (defined below) and who controls
Investors (defined below) through its general partner,
with respect to the shares of Common Stock (defined in
Item 2(d) below) beneficially owned by Hunter Global
Investors Fund I L.P. ("Fund I"), Hunter Global Investors
Offshore Fund Ltd. ("Off"), and Hunter Global Investors
SRI Fund Ltd. ("SRI"), collectively.
(ii) Hunter Global Investors L.P., a Delaware limited partnership
("Investors") (IA) that is the investment manager of
Fund I, Off, and SRI, with respect to the shares of Common
Stock beneficially owned by Fund I, Off, and SRI, collectively.
(iii) Hunter Global Associates L.L.C., a Delaware limited liability
company ("Associates")(OO) that is the general partner of
Fund I, with respect to the shares of Common Stock
beneficially owned by Fund I.
(iv) Fund I, a Delaware limited partnership (PN), with respect to
the shares of Common Stock beneficially owned by it.
(v) Off, a Cayman Islands exempted company (CO), with respect to
the shares of Common Stock beneficially owned by it.
(vi) SRI, a Cayman Islands exempted company (CO), with respect to
the shares of Common Stock beneficially owned by it.
The foregoing persons are hereinafter collectively referred to as
the "Reporting Persons". Any disclosures herein with respect to
persons other than the Reporting Persons are made on information
and belief after making inquiry to the appropriate person.
(b) Address or Principal Business Office or, If None, Residence:
The address of the business office of each of the Reporting
Persons is 777 South Flagler Drive, Suite 800 West, West
Palm Beach, FL 33401.
(c) Citizenship:
Fund I and Investors are each limited partnerships organized under
the laws of the State of Delaware. Associates is a limited liability
company organized under the laws of the State of Delaware. Off and
SRI are each Cayman Islands exempted companies organized under the
laws of the Cayman Islands. Mr. Buchan is a United States citizen.
(d) Title of Class of Securities
Common Stock (the "Common Stock").
(e) CUSIP Number
Y0553W103
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a: Not Applicable
(a) |_| Broker or dealer registered under section 15 of the Act,
(b) |_| Bank as defined in section 3(a)(6) of the Act,
(c) |_| Insurance company as defined in section 3(a)(19) of the Act,
(d) |_| Investment company registered under section 8 of the
Investment Company Act of 1940,
(e) |_| An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
(f) |_| An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F),
(g) |_| A parent holding company or control person in accordance
with Rule 13d- 1(b)(1)(ii)(G),
(h) |_| A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813),
(i) |_| A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940,
(j) |_| A non-U.S. institution in accordance with
Rule 13d-1(b)(1)(ii)(J),
(k) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(K).
Item 4. Ownership
The percentages used in this Item 4 are calculated based upon 16,896,000
shares of Common Stock issued and outstanding as reported on the Form
10-Q filed by the Issuer with the Commission on November 9, 2011.
A. Duke Buchan III, as senior managing member of Hunter Global
Associates L.L.C., and as the sole member of the general
partner of Hunter Global Investors L.P.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
B. Hunter Global Investors L.P., as investment manager of Hunter
Global Investors Fund I L.P., Hunter Global Investors Offshore
Fund Ltd., and Hunter Global Investors SRI Fund Ltd.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
C. Hunter Global Associates L.L.C., as general partner of Hunter
Global Investors Fund I L.P.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
D. Hunter Global Investors Fund I L.P.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
E. Hunter Global Investors Offshore Fund Ltd.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
F. Hunter Global Investors SRI Fund Ltd.
(a) Amount beneficially owned: 0
(b) Percent of class: 0.0%
(c) (i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
Item 5. Ownership of Five Percent or Less of a Class
X
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not Applicable.
Item 8. Identification and Classification of Members of the Group
The identity of each member of the group is set forth above under
Item 2(a) and Item 4.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and belief,the
securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: January 10, 2012 By: /s/ Duke Buchan III
Duke Buchan III, individually and (a) as Senior
Managing Member of Hunter Global Associates
L.L.C.,for itself and as the general partner of
Hunter Global Investors Fund I L.P. and (b) as
Managing Member of Hunter Global Capital
Management L.L.C., as the general partner of
Hunter Global Investors L.P.
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on Schedule
13G, is filed on behalf of each of the undersigned and that all subsequent
amendments to this statement on Schedule 13G, shall be filed on behalf of each
of the undersigned without the necessity of filing additional joint acquisition
statements. The undersigned acknowledge that each shall be responsible for the
timely filing of such amendments, and for the completeness and accuracy of the
information concerning him or it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that he or it knows or has reason to believe that such
information is inaccurate.
DATED: January 10, 2012 By: /s/ Duke Buchan III
Duke Buchan III, individually and (a) as Senior
Managing Member of Hunter Global Associates
L.L.C.,for itself and as the general partner of
Hunter Global Investors Fund I L.P. and (b) as
Managing Member of Hunter Global Capital
Management L.L.C.,as the general partner of
Hunter Global Investors L.P.