Genco Shipping & Trading (US:GNK)2024-02-22 13:23Financial Performance & Dividends - Genco's Q4 2023 net income was $4937 thousand, with adjusted earnings per share of $043[11, 217] - The company declared a Q4 2023 dividend of $041 per share, marking the 18th consecutive quarterly dividend[106] - Genco estimates Q1 2024 TCE at $18724 based on fixtures for approximately 81% of available days[16, 116, 161] - The estimated Q1 2024 cash flow breakeven rate is $9752 excluding extraordinary annual meeting related expenses[148, 191] - The company has paid down $249 million of debt and invested $236 million in high-specification vessels[118, 123] Fleet & Strategy - Genco purchased two 2016-built scrubber-fitted Capesize vessels that delivered in November 2023[1] - The company's fleet utilization was 973% for both the three months and twelve months ended December 31, 2023[147] - Net fleet growth is reported at +20% and +16%[9] - China's coal imports recorded a +62% increase in 2023[26] Market Overview - Approximately 81% of Q1's available days are fixed[4]