NEW YORK, Aug. 07, 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 reported its financial results for the three months and six months ended June 30, 2024. Second Quarter 2024 and Year-to-Date Highlights Dividend: Declared a $0.34 per share dividend for Q2 2024 20th consecutive quarterly dividend over the last five years Cumulative dividends of $5.915 pe ...

Genco Shipping & Trading (GNK) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. Zacks Consensus Estimate This transporter of drybulk cargo is expected to post quarterly earnings of $0.42 per share in its upcoming r ...

When: Thursday, August 8, 2024 at 8:30 a.m. Eastern Time Dial-in: 646-307-1963 or 800-715-9871 For live webcast and slide presentation: http://www.gencoshipping.com. CONTACT: Peter Allen Chief Financial Officer Genco Shipping & Trading Limited (646) 443-8550 NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) announced today that it will hold a conference call to discuss the Company's results for the second quarter of 2024 on Thursday, August 8, 2024 at 8:30 a.m. Eastern ...

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 ...

Core Viewpoint - Genco Shipping & Trading Limited is urging shareholders to vote "FOR" the re-election of its board nominees to support the company's Comprehensive Value Strategy aimed at enhancing shareholder value and growth [2][4][11]. Group 1: Company Strategy and Performance - Genco is successfully executing its Comprehensive Value Strategy, capturing current opportunities and positioning for growth through drybulk market cycles [4]. - The company has maintained strong corporate governance, ranking 1 in the Webber Research ESG Scorecard for three consecutive years [4]. - Genco's recent quarterly earnings reflect progress, with a commitment to reducing debt by 62% since 2021 and lowering cash flow breakeven rates to the lowest among U.S.-listed drybulk peers [8]. Group 2: Shareholder Engagement and Proxy Fight - George Economou is engaged in a proxy fight against Genco, having nominated Robert Pons for the board, while Economou has sold over half of his Genco shares since early April [6][12]. - Genco's board has reviewed Economou's suggestions for a share buyback and concluded they are not in the best interest of the company or its shareholders [6]. - Institutional Shareholder Services (ISS) has recommended that Genco shareholders vote "FOR" Genco's nominees and "WITHHOLD" on Economou's nominee, highlighting the company's progress in delivering shareholder value [9][11]. Group 3: Financial Returns and Dividends - Genco has authorized a dividend of $0.42 per share for Q1 2024, marking the 19th consecutive quarterly dividend payment, returning a total of $5.575 per share since 2021, which is nearly 25% of the stock price [8]. - The company is focused on fleet renewal, having sold three older Capesize vessels scheduled for special surveys in 2024 [8].