Profile: Genco Shipping and Trading Ltd (GNK)
7 Mar 2014
Genco Shipping & Trading Limited (GS&T), incorporated in 2004, transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. As of December 31, 2012, GS&T’s fleet consisted of 53 drybulk carriers, including nine capesize, eight panamax, 17 supramax, six handymax and 13 handysize drybulk carriers, with an aggregate carrying capacity of approximately 3,810,000 deadweight tonnages. The average age of the Company's fleet was approximately 7.8 years as of December 31, 2012. Additionally, five of the Company's vessels operate in the Lauritzen Pool. The Company has two segments: GS&T and Baltic Trading Limited (Baltic Trading).
The Company's vessels are chartered to charterers, including Lauritzen Bulkers A/S or LB/IVS Pool, in which Lauritzen Bulkers A/S acts as the pool manager (Lauritzen Bulkers), Cargill International S.A. (Cargill), Pacific Basin Chartering Ltd. (Pacbasin), Trafigura Beheer B.V. (Trafigura), Klaveness Chartering (Klaveness) and Swissmarine Services S.A. (Swissmarine). In addition, Baltic Trading's fleet consists of two Capesize, four Supramax and three Handysize drybulk carriers with an aggregate carrying capacity of approximately 672,000 deadweight tonnages. The Company provides technical services for drybulk vessels purchased by Maritime Equity Partners (MEP) under an agency agreement between the Company and MEP. These services include oversight of crew management, insurance, drydocking, ship operations and financial statement preparation, but do not include chartering services.
Genco Shipping and Trading Ltd
12th Floor, 299 Park Avenue
NEW YORK NY 10171