Core Viewpoint - Genco Shipping & Trading Limited has amended its shareholder rights plan to adjust the definition of "Acquiring Person" and the beneficial ownership threshold, aiming to protect the interests of all shareholders amid competitive stock accumulation [1][2][3]. Summary by Sections Amendment Details - The Amendment changes the beneficial ownership threshold for triggering the Rights Plan to 10%, or 15% for any 13G Investor, and excludes a Grandfathered Shareholder who owns nearly 15% of the Common Stock [2]. Board's Rationale - The Board believes the Amendment is in the best interests of the Company and its shareholders, particularly due to the rapid accumulation of stock by a competitor, which could lead to a transfer of control [3]. Rights Agreement Purpose - The Rights Agreement aims to ensure that all shareholders can realize the long-term value of their investments and to prevent any entity from gaining control without offering a control premium to all shareholders [4]. Future Considerations - The Rights Plan, as amended, will remain effective, and any future extensions or renewals will require a shareholder vote [5]. Company Overview - Genco Shipping & Trading Limited is a U.S.-based drybulk shipowner focused on global commodity transportation, operating a fleet of 43 vessels with an average age of 12.8 years and a total capacity of approximately 4,629,000 deadweight tons (dwt) [7].

Core Points - The article emphasizes the importance of enabling Javascript and cookies in browsers to prevent access issues [1] - It highlights that users with ad-blockers may face restrictions when trying to access content [1] Summary by Categories - **User Experience** - Enabling Javascript and cookies is crucial for seamless browsing [1] - Ad-blockers can hinder access to certain content, suggesting a need for users to disable them [1]

（来源：航运界） 来源：航运界 航运界网消息，美国干散货船东GencoShipping& Trading公司（以下简称"Genco"或该公司）当地时间11 月6日公布2025年第三季度未经审计的财报。报告期内，其船队日均TCE环比有所回升，三季度仍亏损 107.8万美元。与此同时，Genco动用储备基金连续第25个季度分红，三季度每股派发0.15美元。 图源：Genco官网 具体而言，三季度，Genco实现营业收7992.1万美元，同比减少19.5%；营业利润为246.7万美元，同比 下降89.7%；调整后息税折旧摊销前利润（EBITDA）为2169.5万美元，同比下降41.2%；净利润为亏损 107.8万美元。 财报披露，其船队在2025年三季度日平均TCE为15959美元，同比下降17.1%；单船日均管理成本6312美 元，同比下降1.7%。其中海岬型船队日平均TCE为21380美元，同比下降20.7%；极灵便型船队日平均 TCE为13687美元，同比减少10.8%；超灵便型船队日平均TCE为12741美元，同比减少6.5%。 | | | | GENCO2025年三季度度业绩 | | | | | --- ...

Genco Shipping & Trading (NYSE:GNK) Q3 2025 Earnings Call November 06, 2025 08:30 AM ET Speaker1Good morning, ladies and gentlemen, and welcome to the Genco Shipping & Trading Limited third quarter 2025 earnings conference call and presentation. Before we begin, please note that there will be a slide presentation accompanying today's conference call. The presentation can be obtained from Genco's website at www.gencoshipping.com. To inform everyone, today's conference is being recorded and is now being webca ...

GENCO SHIPPING & TRADING LIMITED Q3 2025 Earnings Presentation November 6th, 2025 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as "anticipate," "budget," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of ...

Genco Shipping & Trading (GNK) came out with a quarterly loss of $0.01 per share in line with the Zacks Consensus Estimate. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this transporter of drybulk cargo would post a loss of $0.15 per share when it actually produced a loss of $0.14, delivering a surprise of +6.67%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Genco Sh ...

Financial Performance - Voyage revenues for Q3 2025 decreased to $79,921,000, down 19.5% from $99,332,000 in Q3 2024[152]. - Total revenues for the nine months ended September 30, 2025, were $232,130,000, a decline of 28.3% compared to $323,814,000 in the same period of 2024[153]. - Operating income for Q3 2025 was $2,467,000, representing an 89.7% decrease from $24,034,000 in Q3 2024[152]. - Net loss attributable to Genco Shipping & Trading Limited for Q3 2025 was $1,053,000, compared to a net income of $21,459,000 in Q3 2024, marking a 104.9% decline[152]. - EBITDA for Q3 2025 was $21,008,000, down 47.9% from $40,300,000 in Q3 2024[154]. - Total operating expenses for the nine months ended September 30, 2025, were $243,693,000, a decrease of 3.1% from $251,373,000 in the same period of 2024[153]. - Charter hire expenses for Q3 2025 were $106,000, a significant drop of 91.6% from $1,267,000 in Q3 2024[152]. - The company reported a net loss per share of $0.02 for Q3 2025, compared to earnings of $0.50 per share in Q3 2024, reflecting a 104.0% decline[152]. - Voyage revenues for the nine months ended September 30, 2025, decreased by $91.7 million, or 28.3%, to $232.1 million compared to $323.8 million for the same period in 2024[178]. Fleet and Operations - The fleet consists of 43 drybulk vessels with an aggregate carrying capacity of approximately 4,629,000 deadweight tons (dwt) and an average age of approximately 12.8 years[112]. - The company acquired the Genco Courageous, a 2020-built, 182,000 dwt Capesize vessel, for $63.6 million, delivered on October 15, 2025[129]. - The company divested three older, less fuel-efficient vessels in 2024 to opportunistically renew its fleet[131]. - Chartered-in days for Ultramax vessels dropped significantly by 60.7 days, or 85.5%, from 71.0 days in 2024 to 10.3 days in 2025[139]. - Total available days for the owned and chartered-in fleet decreased by 239.1 days, or 6.5%, from 3,696.1 days in 2024 to 3,457.0 days in 2025[139]. - Fleet utilization for Capesize vessels remained stable at 97.1%, a slight decrease of 0.1% compared to 97.2% in 2024[139]. - Daily vessel operating expenses for Capesize vessels increased by $234, or 3.4%, from $6,783 in 2024 to $7,017 in 2025[140]. - The fleet currently consists of 43 drybulk vessels, including 17 Capesize, 15 Ultramax, and 11 Supramax vessels[218]. Environmental Compliance and Regulations - The International Maritime Organization (IMO) has set targets for reducing total annual GHG emissions from shipping by at least 20% by 2030 compared to 2008 levels[125]. - The UK Emission Trading Scheme (UK ETS) for the maritime sector will start on July 1, 2026, covering vessels of 5,000 gross tonnage and above[132]. - The company aims to maintain compliance with evolving environmental regulations, including the IMO Net-Zero Framework expected to enter into force by March 2028[123]. - The company has implemented a fuel efficiency upgrade program for certain vessels to generate fuel savings and increase future earnings potential[218]. Debt and Liquidity - The company has reduced its debt by $279.2 million cumulatively through September 30, 2025, resulting in a debt balance of $170 million, a 62% reduction from January 1, 2021 levels[116]. - As of September 30, 2025, the company had $90 million in cash and undrawn revolver availability of $430 million, totaling $520 million in liquidity[117]. - The company plans to actively manage its debt balance to reduce interest expenses and may draw down debt for growth opportunities, with no mandatory repayments due until 2030[199]. - The company is in compliance with all financial covenants under the $600 Million Revolver as of September 30, 2025[203]. - Net cash provided by financing activities was $47.7 million in 2025, a significant increase from ($170.4) million in 2024, due to a decrease in debt repayments and new drawdowns[213]. Costs and Expenses - General and administrative expenses increased from $6.8 million in Q3 2024 to $7.6 million in Q3 2025, primarily due to higher nonvested stock amortization expenses[169]. - General and administrative expenses increased to $22.5 million for the nine months ended September 30, 2025, up from $20.8 million in 2024, primarily due to higher nonvested stock amortization and legal fees[185]. - Depreciation and amortization expenses rose by $4.2 million, from $50.9 million in 2024 to $55.1 million in 2025, mainly due to increased drydocking amortization for certain vessels[187]. - Voyage expenses decreased from $28.2 million in Q3 2024 to $24.8 million in Q3 2025, primarily due to lower bunker consumption[162]. - Vessel operating expenses decreased by $0.4 million from $24.8 million in Q3 2024 to $24.4 million in Q3 2025[163]. Market Risks - The company has not entered into any forward freight agreements (FFAs) as of September 30, 2025, to manage market risks[217]. - The company is exposed to interest rate changes, with a 1% increase in SOFR resulting in an increase of $0.7 million in interest expense for the nine months ended September 30, 2025[241]. - The company has significant amounts of floating rate debt outstanding, which subjects it to market risks related to changes in SOFR rates[240]. - The majority of the company's revenues and most operating costs are denominated in U.S. Dollars, minimizing foreign exchange risk[247].

GENCO SHIPPING & TRADING LIMITED ANNOUNCES Q3 2025 FINANCIAL RESULTS Declares Dividend of $0.15 per share for Q3 2025 Represents Genco's 25th Consecutive Quarterly Dividend New York, New York, November 5, 2025 – Genco Shipping & Trading Limited (NYSE:GNK) ("Genco" or the "Company"), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today reported its financial results for the three months and nine months ended September 30, 2025. Third Quarter 2025 and Yea ...

Core Insights - Genco Shipping & Trading Limited declared a cash dividend of $0.15 per share for Q3 2025, marking its 25th consecutive quarterly dividend, with cumulative dividends totaling $7.065 per share, approximately 43% of the current share price [5][9][15]. Financial Performance - For Q3 2025, Genco reported a net loss of $1.1 million, or a basic and diluted net loss per share of $0.02, compared to a net income of $21.5 million for the same period in 2024 [31]. - Adjusted EBITDA for Q3 2025 was $21.7 million, down from $36.9 million in Q3 2024 [39]. - Voyage revenues decreased to $79.9 million in Q3 2025 from $99.3 million in Q3 2024, primarily due to lower rates and additional drydocking days [32]. Operational Highlights - The average daily time charter equivalent (TCE) for the fleet was $15,959 per day in Q3 2025, down from $19,260 per day in Q3 2024 [32]. - The estimated TCE for Q4 2025 is projected to be over $20,000 per day, representing an increase of more than 25% compared to Q3 [5][24]. Strategic Initiatives - Genco has focused on a comprehensive value strategy that includes paying sizeable dividends, reducing debt, and investing in fleet growth, having paid down $279 million in debt since the strategy's inception and invested approximately $200 million in modern Capesize vessels since 2023 [5][20]. - The company acquired the Genco Courageous, a high-specification Capesize vessel, for $63.6 million, funded through cash and a drawdown from its revolving credit facility [13][20]. Liquidity and Capital Resources - Genco reported a strong liquidity position of $520 million as of September 30, 2025, consisting of $90 million in cash and $430 million in revolving credit availability [18]. - The company has a net loan-to-value (LTV) ratio of 12% as of September 30, 2025, pro forma for the recently acquired vessel [18]. Future Outlook - The company remains optimistic about the drybulk freight market, citing compelling supply-side fundamentals and demand growth catalysts [5]. - Genco's focus for the future includes providing substantial returns to shareholders and capitalizing on attractive growth opportunities to enhance earnings capacity [5].

Core Points - Genco Shipping & Trading Limited will hold a conference call to discuss its third quarter 2025 results on November 6, 2025, at 8:30 a.m. Eastern Time [1] - The financial results for the third quarter ended September 30, 2025, will be released on November 5, 2025, after market close [1] Company Overview - Genco Shipping & Trading Limited is a U.S.-based dry bulk ship owning company focused on the seaborne transportation of commodities globally [4] - The company transports key cargoes including iron ore, coal, grain, steel products, bauxite, cement, and nickel ore along worldwide shipping routes [4] - Genco's fleet consists of 43 vessels with an average age of 12.7 years and an aggregate capacity of approximately 4,628,000 deadweight tons (dwt) [4]