Genco Shipping & Trading Ltd

F:GNU1

Business Description

Sector

Industrials

Industry

Marine

Headquarters

United States of America US

Employees

945

IPO date

Jul 22, 2005

Genco Shipping & Trading owns and operates dry bulk cargo ships that move raw materials around the world. Its vessels carry goods such as iron ore, coal, grain, and other bulk commodities for miners, commodity traders, producers, and industrial customers that need steady ocean freight capacity.

The company makes money by placing its ships on voyage charters, spot market trips, and longer-term time charters. Customers pay Genco for the use of its vessels and shipping services, so the business is tied to global trade flows and freight rates rather than selling physical products.

What makes Genco's business different is that it sits in the middle of the commodity supply chain: it does not mine the cargo, own the cargo, or run ports, but it provides the ships that move the cargo between suppliers and buyers. That makes it a specialized transport business where fleet quality, operating discipline, and access to the right cargo routes matter a great deal.