Profile: Genco Shipping & Trading Ltd (GNK.N)
26 May 2017
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 is engaged in the ocean transportation of drybulk cargoes around the world through the ownership and operation of drybulk carrier vessels. As of December 31, 2016, its fleet consisted of 61 drybulk carriers, including 13 Capesize, six Panamax, four Ultramax, 21 Supramax, two Handymax and 15 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 4,735,000 deadweight tons (dwt). Of the vessels in its fleet, 15 are on spot market-related time charters, and 27 are on fixed-rate time charter contracts. As of December 31, 2016, additionally, 19 of the vessels in its fleet were operating in vessel pools.
The Company's vessels are chartered to charterers, including Swissmarine Services S.A. and its subsidiaries (Swissmarine) and the Clipper Logger Pool and Clipper Sapphire Pool, in which Clipper Group acts as the pool manager (Clipper). The Company's vessels include Genco Augustus, Genco Claudius, Genco Commodus, Genco London, Genco Tiberius, Genco Tiger, Baltic Lion, Genco Beauty, Genco Raptor, Genco Thunder, Genco Vigour, Baltic Wasp, Genco Aquitaine, Genco Bourgogne, Genco Hunter, Genco Normandy, Genco Provence, Genco Warrior, Baltic Jaguar, Genco Prosperity, Genco Challenger, Genco Explorer, Genco Ocean, Baltic Breeze, Baltic Cove, Baltic Fox and Baltic Hare. The Company utilizes the services of independent technical managers for the technical management of its fleet. Technical management involves the day-to-day management of vessels, including performing routine maintenance, attending to vessel operations and arranging for crews and supplies.
Genco Shipping & Trading Ltd
299 Park Ave Fl 12
NEW YORK NY 10171-0002