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Genco adds fuel-efficient Ultramax pair to its fleet

Genco adds fuel-efficient Ultramax pair to its fleet
May 20, 2021,
by
Jasmina Ovcina
Bulk shipping company Genco Shipping & Trading Limited has inked a deal to acquire two 2022-built 61,000 dwt Ultramax vessels to be constructed at Dalian Cosco KHI Ship Engineering (DACKS).
The shipowner did not reveal the price tag of the two newbuilds. The vessels are expected to be delivered to Genco in January 2022.
The purchases mark the fifth and sixth high specification, fuel-efficient Ultramax vessels that Genco has agreed to acquire since December 2020, doubling its core Ultramax presence over that time.
To remind, last month Genco bought a 2016-built 64,000 dwt Ultramax vessel constructed at Zhejiang Yangfan shipyard in China. The vessel, to be renamed Genco Enterprise, is expected to be delivered to Genco between May and July 2021. ....

Johnc Wobensmith , Zhejiang Yangfan , Genco Shipping Trading , Genco Shipping , Trading Limited , Dalian Cosco , Genco Enterprise , Chief Executive Officer , கெண்கோ கப்பல் போக்குவரத்து வர்த்தக , கெண்கோ கப்பல் போக்குவரத்து , வர்த்தக வரையறுக்கப்பட்டவை , டேலியன் காஸ்கோ , தலைமை நிர்வாகி அதிகாரி ,

Genco Shipping & Trading Limited Further Steps Taken Towards Implementation of New Comprehensive Value Strategy, Increases quarterly cash dividend to $0.05 per share

Less: Reserve
Cash flow distributable as dividends
For purposes of the foregoing calculation, operating cash flow is defined as voyage revenue less voyage expenses, charter hire expenses, vessel operating expenses, general and administrative expenses other than non-cash restricted stock expenses, technical management fees, and interest expense other than non-cash deferred financing costs. Anticipated uses for the reserve include, but are not limited to, vessel acquisitions, debt repayments, and general corporate purposes. In order to set aside funds for these purposes, the reserve will be set on a quarterly basis in advance of the subsequent quarter at the discretion of our Board of Directors and is anticipated to be based on future quarterly debt repayments and interest expense. Maintaining a quarterly reserve as well as optionality for the uses of the reserve are important factors of the corporate strategy as it enables Genco to be flexible depending on market conditions ....

Johnc Wobensmith , Genco Liberty , Zhejiang Yangfan , Apostolos Zafolias , Genco Lorraine , Genco Shipping Trading , Trading Limited , Chief Executive Officer , Summary Consolidated Financial , Genco Enterprise , Baltic Leopard , Genco Shipping , Chief Financial Officer , கெண்கோ சுதந்திரம் , கெண்கோ லோரெய்ன் , கெண்கோ கப்பல் போக்குவரத்து வர்த்தக , வர்த்தக வரையறுக்கப்பட்டவை , தலைமை நிர்வாகி அதிகாரி , சுருக்கம் தொகுக்கப்பட்டு நிதி , பால்டிக் சிறுத்தை , கெண்கோ கப்பல் போக்குவரத்து , தலைமை நிதி அதிகாரி ,

Genco Shipping & Trading Limited Announces First Quarter Financial Results

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Genco Shipping & Trading Limited Announces First Quarter Financial Results
Genco Shipping & Trading LimitedMay 5, 2021 GMT
Further Steps Taken Towards Implementation of New Comprehensive Value Strategy
Increases quarterly cash dividend to $0.05 per share
NEW YORK, May 05, 2021 (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 ended March 31, 2021.
The following financial review discusses the results for the three months ended March 31, 2021 and March 31, 2020. ....

Marshall Islands , Baltic Wolf , Genco Liberty , Genco Weatherly , Genco Brittany , Genco Hadrian , Genco Tiger , Genco Provence , Johnc Wobensmith , Genco Titus , Genco Claudius , Genco Maximus , Genco Hunter , Genco Ardennes , Genco Augustus , Genco Constantine , Zhejiang Yangfan , Genco Bourgogne , Genco Picardy , Apostolos Zafolias , Genco Lorraine , Genco Commodus , Genco Languedoc , Genco Auvergne , Genco Rhone , Exchange Commission ,

Genco Buys Secondhand Ultramax Bulk Carrier

Genco Buys Secondhand Ultramax Bulk Carrier
Maritime Activity Reports, Inc.
© Gaspar Luis Prieto Garcia / MarineTraffic.com
Dry bulk shipping company Genco Shipping & Trading Limited said on Wednesday it has reached a deal to acquire a 2016-built 64,000 dwt Ultramax bulk carrier constructed at Zhejiang Yangfan shipyard in China. The vessel, to be renamed Genco Enterprise, is expected to be delivered to Genco between May and July 2021.
The purchase marks the fourth Ultramax vessel that Genco has agreed to acquire since December 2020 amid surging rates in the dry bulk sector.
John C. Wobensmith, Genco CEO, said, “This latest Ultramax acquisition further grows our presence within the key Ultramax sector that we believe will seamlessly integrate with our strong in-house commercial operating platform. This represents an opportunistic purchase given the current freight rate environment together with our positive long-term outlook for the dry bulk market.” ....

Johnc Wobensmith , Zhejiang Yangfan , Genco Shipping Trading , Genco Shipping , Trading Limited , Genco Enterprise , New York Listed Genco , கெண்கோ கப்பல் போக்குவரத்து வர்த்தக , கெண்கோ கப்பல் போக்குவரத்து , வர்த்தக வரையறுக்கப்பட்டவை ,

Genco Shipping & Trading Limited to Acquire Modern, Fuel-Efficient Ultramax Vessel

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Genco Shipping & Trading Limited to Acquire Modern, Fuel-Efficient Ultramax Vessel
Genco Shipping & Trading LimitedApril 21, 2021 GMT
NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) Genco Shipping & Trading Limited (NYSE:GNK) (“Genco”) today announced that it has entered into an agreement to acquire a 2016-built 64,000 dwt Ultramax vessel constructed at Zhejiang Yangfan shipyard in China. The vessel, to be renamed Genco Enterprise, is expected to be delivered to Genco between May and July 2021.
This purchase marks the fourth high specification, fuel-efficient Ultramax vessel that Genco has agreed to acquire since December 2020, further expanding our core Ultramax presence. Genco intends to fund the acquisition from cash on the balance sheet on a low leverage basis in line with our new comprehensive value strategy. ....

Johnc Wobensmith , Zhejiang Yangfan , Apostolos Zafolias , Genco Shipping Trading Limited , Genco Shipping Trading , Trading Limited , Genco Enterprise , Chief Executive Officer , Genco Shipping , Globe Newswire , கெண்கோ கப்பல் போக்குவரத்து வர்த்தக வரையறுக்கப்பட்டவை , கெண்கோ கப்பல் போக்குவரத்து வர்த்தக , வர்த்தக வரையறுக்கப்பட்டவை , தலைமை நிர்வாகி அதிகாரி , கெண்கோ கப்பல் போக்குவரத்து ,