Profile: Genco Shipping & Trading Ltd (GNK)
24 Jun 2016
Genco Shipping & Trading Limited, incorporated on September 27, 2004, transports iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes through the ownership and operation of drybulk carrier vessels. The Company's segment is engaged in the ocean transportation of drybulk cargoes across the world through the ownership and operation of drybulk carrier vessels. The Company's fleet consists of approximately 70 drybulk carriers, including over 10 Capesize, approximately eight Panamax, approximately four Ultramax, over 20 Supramax, approximately six Handymax and approximately 20 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 5,158,000 deadweight tons (dwt). Of the vessels in its fleet, approximately 40 are on spot market-related time charters, and approximately 10 are on fixed-rate time charter contracts. Additionally, over 20 of the vessels in the fleet are operating in vessel pools.
The Company's vessels are chartered to charterers, including Cargill International S.A. and its subsidiaries (Cargill), Pacific Basin Chartering Ltd. (Pacbasin), Swissmarine Services S.A. and its subsidiaries (Swissmarine), and the Clipper Logger Pool. The Company also provides technical services for drybulk vessels, which include oversight of crew management, insurance, drydocking, ship operations and financial statement preparation. The Company's vessels include Genco Augustus, Genco Commodus, Genco Tiberius, Baltic Bear, Baltic Lion, Genco Acheron, Genco Leader, Genco Thunder, Baltic Hornet, Baltic Mantis, Genco Ardennes, Genco Languedoc, Baltic Panther, Genco Avra, Genco Champion, Baltic Fox and Baltic Wind.
Genco Shipping & Trading Ltd
299 Park Ave Fl 12
NEW YORK NY 10171-0002
Company Web Links
- BRIEF-Capital management agrees to purchase $14 mln of equity securities of Genco
- BRIEF-Genco Shipping & Trading enters into commitment letter
- BRIEF-Genco Shipping & Trading and units entered into agreement with ABN Amro Capital USA
- BRIEF-Genco Shipping & Trading units enter deal with Crédit Agricole in connection with loan agreement
- UPDATE 1-EU mergers and takeovers (March 10)