GNK

Leading Dry Bulk & Containers Shipping Companies Participating at Capital Link’s 18th Annual International Shipping Forum Monday March 11, 2024 in New York City

Retrieved on: 
Tuesday, February 13, 2024
Marketing, Forum, GNK, NMM, SHIP

It is a meeting place for C-level Executives from the maritime industry and the finance and investment communities involved with shipping.

Key Points: 
  • It is a meeting place for C-level Executives from the maritime industry and the finance and investment communities involved with shipping.
  • Discussions will include topics of critical relevance to the industry geopolitics, energy security, sanctions, access to capital, regulation, technology, innovation and more.
  • The Forum features a series of panel discussions as well as 1x1 meetings between investors and executives from shipping companies.
  • This one-day conference is known for its rich informational content and the extensive marketing, networking and business development opportunities.

Genco Shipping & Trading Limited Announces Fourth Quarter 2023 Conference Call and Webcast

Retrieved on: 
Tuesday, February 6, 2024
GNK, Internet, Webcast, Eastern Time Zone

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the fourth quarter of 2023 on Thursday, February 22, 2024 at 8:30 a.m. Eastern Time.

Key Points: 
  • NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the fourth quarter of 2023 on Thursday, February 22, 2024 at 8:30 a.m. Eastern Time.
  • The conference call will also be broadcast live over the Internet and include a slide presentation.
  • The Company will issue financial results for the fourth quarter ended December 31, 2023 on Wednesday, February 21, 2024 after the close of market trading.
  • If you are unable to participate at this time, a replay of the call will be available for two weeks at 416-764-8692 or 877-674-7070.

Genco Highlights Steps the Company Is Taking to Drive Sustainable, Long-Term Shareholder Value

Retrieved on: 
Monday, January 22, 2024
Jefferies Group, GNK, Acquisition, Capesize, Transport, Letter, Investment company, Growth, Management

The full text of the letter follows:

Key Points: 
  • The full text of the letter follows:
    We are writing today with an update on the important steps we continue to take at Genco to drive sustainable, long-term shareholder value for you.
  • We are continuing to take concrete measures to deliver on our Comprehensive Value Strategy in a sustainable manner.
  • The Company has paid 17 consecutive quarterly dividends since 2019, including eight since the announcement of the Value Strategy in 2021.
  • Looking ahead, we remain committed to maintaining our strong governance and taking actions that we believe will create the most value for shareholders.

George Economou Nominates Two Candidates for Genco Board

Retrieved on: 
Wednesday, January 10, 2024
Maritime, Transport, Logistics, Supply Chain Management, Other Transport, Online, Pons, Stanford University, University, Rowan University, Audit committee, Harvard Kennedy School, School, Innovate Corp., Maryport, GNK, TDW, Partner, WHEN, International, Common stock, INSW, Common, Annual general meeting, Security (finance), FreedomPay, Proxy, Capital market, GK, WILL, George Washington University, Compensated emancipation, DHT, Management

GK Investor LLC (“GK”), an affiliate of George Economou that is an approximately 5.4% shareholder of Genco Shipping & Trading Limited (“Genco” or the “Company”) (NYSE: GNK), today announced that it has nominated two candidates for election to the Genco Board of Directors (the “Board”) at the 2024 Annual Meeting of Genco’s Shareholders (the “Annual Meeting”).

Key Points: 
  • GK Investor LLC (“GK”), an affiliate of George Economou that is an approximately 5.4% shareholder of Genco Shipping & Trading Limited (“Genco” or the “Company”) (NYSE: GNK), today announced that it has nominated two candidates for election to the Genco Board of Directors (the “Board”) at the 2024 Annual Meeting of Genco’s Shareholders (the “Annual Meeting”).
  • If elected to the Genco Board, Ms. Day would bring substantial maritime industry, governance and financial expertise drawn from decades of senior executive and oversight experience.
  • If elected to the Genco Board, Mr. Pons would bring significant operational know-how, technology and corporate governance experience based on his numerous executive leadership roles and public company directorships.
  • George Economou stated, “As a significant Genco shareholder, I strongly believe in the Company’s potential to deliver improved value for shareholders.

Genco Shipping & Trading Limited Closes $500 Million Credit Facility

Retrieved on: 
Monday, December 4, 2023
Genco, Nordea, GNK, Investment banking, Growth, ING Group, Transport, Bank

NEW YORK, Dec. 04, 2023 (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 announced that it has closed its previously announced $500 million revolving credit facility.

Key Points: 
  • NEW YORK, Dec. 04, 2023 (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 announced that it has closed its previously announced $500 million revolving credit facility.
  • Key terms of the $500 million revolving credit facility include:
    Borrowing capacity increased to $500 million from $344 million, an increase of $156 million or 46%
    Genco will have no mandatory debt repayments until 2028, due to our reduction in debt outstanding
    John C. Wobensmith, Chief Executive Officer, commented, “We are pleased to close on this new credit facility and appreciate the continued support of our leading bank group.
  • Current revolver availability of $290 million provides Genco with significant optionality to grow accretively, while continuing to delever.
  • Following closing of the facility, our debt outstanding is approximately $210 million and our undrawn revolver availability is approximately $290 million.

Genco Shipping & Trading Limited Advances Fleet Renewal Strategy

Retrieved on: 
Monday, November 27, 2023
Genco, Sale, Hand, Acquisition, GNK, Cape, Transport, Carbon

NEW YORK, Nov. 27, 2023 (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 acquired an additional 2016-built 181,000 dwt scrubber-fitted Capesize vessel, the Genco Reliance, for a purchase price of $43.0 million.

Key Points: 
  • NEW YORK, Nov. 27, 2023 (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 acquired an additional 2016-built 181,000 dwt scrubber-fitted Capesize vessel, the Genco Reliance, for a purchase price of $43.0 million.
  • The Company took delivery of the Genco Reliance, as well as the previously announced Capesize acquisition, the Genco Ranger, during the last week of November 2023.
  • Genco also announced today that it has agreed to sell the Genco Commodus, a 2009-built 169,098 dwt Capesize vessel, for $19.5 million.
  • John C. Wobensmith, Chief Executive Officer, commented, “We are pleased to have taken important steps to advance our fleet renewal strategy.

Genco Shipping & Trading Limited to Participate in the Jefferies Industrials Conference

Retrieved on: 
Wednesday, August 23, 2023
Webcast, GNK, NYSE, Conference, Cryptocurrency, Music

NEW YORK, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that John C. Wobensmith, Chief Executive Officer, and Peter Allen, Chief Financial Officer, are scheduled to present at the Jefferies Industrials Conference on Wednesday, September 6, 2023 at 10:00 am Eastern Time.

Key Points: 
  • NEW YORK, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that John C. Wobensmith, Chief Executive Officer, and Peter Allen, Chief Financial Officer, are scheduled to present at the Jefferies Industrials Conference on Wednesday, September 6, 2023 at 10:00 am Eastern Time.
  • Genco management will also participate in investor meetings held in conjunction with the conference.
  • The presentation will be broadcast via webcast and can be accessed through the Investor Relations section of Genco’s website, https://www.gencoshipping.com .
  • Please allow extra time prior to the presentation to visit the site and download any necessary software that may be needed to access the Internet broadcast.

Genco Shipping & Trading Limited Announces Second Quarter 2023 Conference Call and Webcast

Retrieved on: 
Wednesday, July 5, 2023
Webcast, Internet, GNK, NYSE

NEW YORK, July 05, 2023 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the second quarter of 2023 on Friday, August 4, 2023 at 10:00 a.m. Eastern Time.

Key Points: 
  • NEW YORK, July 05, 2023 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the second quarter of 2023 on Friday, August 4, 2023 at 10:00 a.m. Eastern Time.
  • The conference call will also be broadcast live over the Internet and include a slide presentation.
  • The Company will issue financial results for the second quarter ended June 30, 2023 on Friday, August 4, 2023 before the open of market trading.
  • The webcast will also be archived on the Company’s website: http://www.gencoshipping.com .

Genco Shipping & Trading Limited Announces Appointment of 15-Year Company Veteran as New Chief Financial Officer

Retrieved on: 
Monday, May 22, 2023
GNK, Chartered, Chartered Financial Analyst, Accounting, NYSE, CFO, Transport, Fairfield University, Management, Genco

NEW YORK, May 22, 2023 (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 announced the appointment of Peter Allen as Chief Financial Officer, effective June 16, 2023.

Key Points: 
  • NEW YORK, May 22, 2023 (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 announced the appointment of Peter Allen as Chief Financial Officer, effective June 16, 2023.
  • He is to succeed Apostolos Zafolias, who as previously announced, will leave the Company to pursue an opportunity outside of the maritime industry.
  • Mr. Allen has extensive experience in the shipping industry related to financial strategy, capital allocation, M&A, market analysis, SEC reporting and investor relations.
  • We will continue to work diligently to build off of this solid financial foundation to create long-term value for shareholders.”

Genco Shipping & Trading Limited Announces Management Change

Retrieved on: 
Wednesday, April 19, 2023
Apostolos, CFO, Genco, Transport, GNK, NYSE, Family, Management, Finance

NEW YORK, April 19, 2023 (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 announced that Apostolos Zafolias, the Company’s Chief Financial Officer and Executive Vice President, Finance, will be leaving the Company to pursue an opportunity outside of the maritime industry.

Key Points: 
  • NEW YORK, April 19, 2023 (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 announced that Apostolos Zafolias, the Company’s Chief Financial Officer and Executive Vice President, Finance, will be leaving the Company to pursue an opportunity outside of the maritime industry.
  • Mr. Zafolias, who has been with Genco since 2005 and served as its Chief Financial Officer since 2014, is anticipated to serve in his current roles at Genco through June 15, 2023 and then as a consultant through December 31, 2023 to assist with an orderly transition.
  • John C. Wobensmith, Chief Executive Officer, commented, “On behalf of management and the entire Board of Directors, I thank Apostolos for his many contributions to Genco over his nearly two decades at the Company.
  • I thank Genco’s management, employees and Board for all of their support over the years.”