Workflow
Genco Shipping & Trading (GNK) - 2025 Q1 - Earnings Call Presentation

Financial Performance & Capital Allocation - Genco reported a Q1 2025 net loss of $11.9 million, or -$0.28 per share[8] - Q1 2025 EBITDA was $7.9 million[8] - The company declared a Q1 2025 dividend of $0.15 per share, marking the 23rd consecutive quarterly dividend[8] - Genco has an approved share repurchase program of $50 million[8] - The company's net loan-to-value is 6%, based on $90 million in debt and $30.6 million in cash against a $989.9 million fleet value[8] - Fleet-wide TCE for Q1 2025 was $11,884, with 68% of Q2 2025 days estimated fixed at $14,042[8] Fleet & Operations - The company's fleet utilization was 98% in Q1 2025[23] - Average daily vessel operating expenses were $6,592 per vessel[23] - Genco's debt has been reduced by 80% since the beginning of 2021, leaving $90 million outstanding[33] - The company has $31 million in cash and $324 million in revolver availability[33] Market Overview - China's Q1 2025 iron ore imports decreased by 8% year-over-year[44] - China's steel exports grew by 10% in Q1 2025[45] - Global bauxite shipments are expected to more than double from a decade ago[50]