Baltic Trading swims against the current in international shipping. While most cargo carriers look for long-term contracts to fill their holds, Baltic Trading intends to focus on the spot market, immediate charters that are usually single voyages. The company, which was formed in 2009 by parent Genco Shipping & Trading to operate in the dry bulk spot market, initially plans to purchase Capesize, Panamax, and Supramax vessels. Genco will act as the company's manager, providing strategic and administrative services and a link to companies like Cargill, COSCO, and Louis Dreyfus. Baltic Trading filed to set sail on public waters in 2009, with Genco giving it $75 million as a bon voyage gift for half the shares.