Headquartered in New York, NY Fiscal year ends December NYSE: GNK gencoshipping.com
Genco Shipping & Trading Limited (NYSE: GNK) is a U.S.-based drybulk shipowner focused on the seaborne transportation of commodities globally.
Cargoes and routes: It carries iron ore, coal, grain, steel products, bauxite, cement, nickel ore and other commodities along worldwide shipping routes.
Fleet: The wholly owned fleet consists of 44 vessels with an average age of 12.9 years and aggregate capacity of approximately 5,117,000 dwt. It spans two segments:
- Major bulk: 2 Newcastlemax and 18 Capesize vessels.
- Minor bulk: 15 Ultramax and 9 Supramax vessels.
Commercial approach: Genco takes a portfolio approach to revenue. It combines short-term spot market employment with selectively booked longer-term fixed-rate and index-linked charters. Several Capesizes are on charters tied to the Baltic Capesize Index plus scrubber benefits.
Comprehensive Value Strategy: The strategy rests on three pillars:
- Sizeable quarterly dividends, paid under a formula of 100% of quarterly operating cash flow less a voluntary reserve.
- Low financial leverage, at an 18% net loan-to-value.
- Opportunistic fleet renewal and growth.
Recent fleet activity: In 2026 the company acquired high-specification Capesize vessels and sold older tonnage. Acquisitions are funded via its $680 million revolving credit facility. Updated
Shareholders collect $1.05 per share, 600% above the year-ago payout, and management is already guiding to more than $1 again in Q4. A surging Capesize market swung the quarter to $38 million in net income, with revenue exceeding expectations.
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Genco Shipping & Trading Limited (NYSE: GNK) is a U.S.-based drybulk shipowner focused on the seaborne transportation of commodities globally. Cargoes and routes: It carries iron ore, coal, grain, steel products, bauxite, cement, nickel ore and other commodities along worldwide shipping routes.
The Wall Street consensus 12-month price target for GNK is $29.36.
