Company Overview - Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally [5] - The company provides a full-service logistics solution utilizing its in-house commercial operating platform, transporting key cargoes such as iron ore, grain, steel products, bauxite, cement, and nickel ore [5] - Genco's fleet consists of 16 Capesize, 15 Ultramax, and 11 Supramax vessels with an aggregate capacity of approximately 4,434,000 dwt and an average age of 11.8 years [5] Upcoming Financial Events - Genco Shipping & Trading Limited will hold a conference call to discuss its results for the second quarter of 2024 on Thursday, August 8, 2024, at 8:30 a.m. Eastern Time [2][4] - Financial results for the second quarter ended June 30, 2024, will be issued on Wednesday, August 7, 2024, after the close of market trading [2] - The conference call will be broadcast live over the Internet and will include a slide presentation [2]

Stewart Sutton Genco (NYSE:GNK) is a shipper of drybulk cargo, which I covered in detail back in December. I was primarlly looking at the stock for its dividend and mted the shares a Hold. In my conclusion, however, I noted: Genco successfully turned itself around, became profitable, and climinated debt to the point that I think it's unlikely to go zero. There's more to say about this company from a longer-term outlook, and perhaps that's worth doing once we get farther into 2024 Now that some time has pass ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- 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 announced that Genco shareholders have overwhelmingly voted at the Company's Annual Meeting to re-elect to the Company's Board of Directors all seven of Genco's highly qualified director nominees – James G. Dolphin, Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arth ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- 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 announced that Genco shareholders have overwhelmingly voted at the Company's Annual Meeting to re-elect to the Company's Board of Directors all seven of Genco's highly qualified director nominees – James G. Dolphin, Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arth ...

Sets the Record Straight on Economou's Campaign Genco Continues Executing on the Comprehensive Value Strategy It Initiated in 2021 Shareholders Should Still Get Their Votes In "FOR" the Re-Election of Genco's Seven Highly Qualified Director Nominees About Genco Shipping & Trading Limited Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a full-service logistics solution to our customers utilizing our in-hou ...

Genco Continues Executing on the Comprehensive Value Strategy It Initiated in 2021 Sets the Record Straight on Economou's Campaign Shareholders Should Still Get Their Votes In "FOR" the Re-Election of Genco's Seven Highly Qualified Director Nominees NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- 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 issued the following statement regarding ...

Successfully Executing on its Comprehensive Value Strategy Reminds Shareholders to Vote "FOR" Genco's Nominees on the WHITE Proxy Card NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- 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 mailed a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders (the "Annual Meeting"), scheduled to be held on May 2 ...

Financial Performance - Genco reported a Q1 2024 net income of $188 million, or $043 per share (diluted), with an adjusted net income of $214 million, or $049 per share[9] - Adjusted EBITDA for Q1 2024 was $419 million[9] - The fleet-wide TCE for Q1 2024 was $19,219[9] - Estimated Q2 2024 TCE is $20,126, based on fixtures for 65% of available days[9] Value Strategy & Dividends - Genco declared a Q1 2024 dividend of $042 per share, representing the 19th consecutive quarterly dividend, totaling 25% of the current share price[9] - Since 2021, Genco has paid down $279 million in debt and invested $236 million in high-specification vessels[10] - Genco has paid $188 million in dividends since 2021[15] - Genco's net loan-to-value is 7%[9] Fleet Management - Genco purchased 2 x 2016-built Capesize vessels in Q4 2023 and sold 3 older Capesize vessels in 2024 to date, modernizing the fleet and increasing earnings capacity[9] - The company anticipates ~$10 million in drydocking capex savings, or ~$024 per share, due to well-timed fleet renewal[20] Market Overview - Baltic Capesize Index (BCI) is at $29,365 and Baltic Supramax Index (BSI) is at $16,245[54] - Increase in voyage duration by ~12 days or 33% from Rotterdam to Shanghai traveling around Cape of Good Hope vs through the Suez Canal[61]

Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.52%. A quarter ago, it was expected that this transporter of drybulk cargo would post earnings of $0.37 per share when it actually produced earnings of $0.43, delivering a surprise of 16.22%.Over the last ...

Exhibit 99.1 GENCO SHIPPING & TRADING LIMITED ANNOUNCES Q1 2024 FINANCIAL RESULTS Declares Dividend of $0.42 per share for Q1 2024; Represents Genco's 19th Consecutive Quarterly Dividend Totaling $5.575 Per Share New York, New York, May 8, 2024 – 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 March 31, 2024. First Quarter 202 ...