Genco Shipping & Trading Limited to Acquire High-Specification Capesize Vessel [Yahoo! Finance]
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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Source: Yahoo! Finance
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 strategy in 2021, Genco has invested approximately $285 million in fleet expansion and modernization, including this latest acquisition. Moving ahead, we believe Genco's significant financial strength, highlighted by $328 million of undrawn revolver capacity at the end of Q2, will enable us to continue to capitalize on growth opportunities. At t
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News
- Genco Shipping & Trading Limited (NYSE: GNK) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Genco Shipping & Trading Limited (NYSE: GNK) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Why It Might Not Make Sense To Buy Genco Shipping & Trading Limited (NYSE:GNK) For Its Upcoming Dividend [Yahoo! Finance]Yahoo! Finance
- Genco Shipping & Trading Ltd (GNK) Q3 2024 Earnings Call Highlights: Strong Financial ... [Yahoo! Finance]Yahoo! Finance
- Genco Shipping & Trading's (NYSE:GNK) Shareholders Will Receive A Bigger Dividend Than Last Year [Yahoo! Finance]Yahoo! Finance
GNK
Earnings
- 11/6/24 - Beat
GNK
Sec Filings
- 12/20/24 - Form 8-K
- 11/27/24 - Form 4
- 11/27/24 - Form 4
- GNK's page on the SEC website