Genco Shipping & Trading Limited to Acquire High-Specification Capesize Vessel
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)
Last genco shipping & trading limited ordinary shares new (marshall islands) earnings: 2/25 04:30 pm
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gencoshipping.com
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Source: GlobeNewswire
NEW YORK, Oct. 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, has agreed to acquire a 2016-built 180,000 dwt high-specification Capesize vessel for a purchase price of $47.5 million. Genco expects to take delivery of the vessel, to be named the Genco Intrepid, within the next 30 days, and intends to fund the acquisition with cash on hand and a drawdown from its revolving credit facility. John C. Wobensmith, Chief Executive Officer, commented, “We are pleased to continue to advance our growth strategy with the acquisition of this modern, fuel-efficient Capesize vessel. The purchase is consistent with our stated objective of reinvesting proceeds from the sale of older, less fuel-efficient vessels into high-quality Capesize vessels to increase our earnings power and further modernize our fleet. Since implementing our value strateg
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- Genco Shipping & Trading Limited (NYSE: GNK) had its "buy" rating re-affirmed by analysts at Jefferies Financial Group Inc.. They now have a $25.00 price target on the stock.MarketBeat
- Genco Shipping & Trading Limited Announces Q3 2024 Financial ResultsGlobeNewswire
GNK
Earnings
- 11/6/24 - Beat
GNK
Sec Filings
- 11/6/24 - Form 10-Q
- 11/6/24 - Form 8-K
- 8/28/24 - Form 4
- GNK's page on the SEC website