Genco Shipping & Trading Ltd
NYSE:GNK
Genco Shipping & Trading Ltd
Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. The company is headquartered in New York City, New York and currently employs 990 full-time employees. The company went IPO on 2005-07-22. The firm transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. Its wholly owned modern and diverse fleet of dry cargo vessels consists of Capesize, Ultramax and Supramax vessels that provide a link in international trade. Its fleet consists of approximately 44 drybulk carriers, including 17 Capesize drybulk carriers, 15 Ultramax drybulk carriers, and 12 Supramax drybulk carriers with an aggregate carrying capacity of approximately 4,636,000 deadweight tons (dwt). The firm's vessels include Baltic Bear, Baltic Hornet, Baltic Lion, Baltic Wolf, Genco Aquitaine, Genco Augustus, Genco Bourgogne, Genco Liberty, Genco Picardy and Genco Vigilant.
Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. The company is headquartered in New York City, New York and currently employs 990 full-time employees. The company went IPO on 2005-07-22. The firm transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. Its wholly owned modern and diverse fleet of dry cargo vessels consists of Capesize, Ultramax and Supramax vessels that provide a link in international trade. Its fleet consists of approximately 44 drybulk carriers, including 17 Capesize drybulk carriers, 15 Ultramax drybulk carriers, and 12 Supramax drybulk carriers with an aggregate carrying capacity of approximately 4,636,000 deadweight tons (dwt). The firm's vessels include Baltic Bear, Baltic Hornet, Baltic Lion, Baltic Wolf, Genco Aquitaine, Genco Augustus, Genco Bourgogne, Genco Liberty, Genco Picardy and Genco Vigilant.
Record Q4 Results: Genco delivered its highest EBITDA and TCE in three years for Q4 2025, driven by strong freight rates and proactive fleet management.
Dividend Surge: The company declared a $0.50 per share dividend for Q4, the highest since Q4 2022 and a 233% increase over Q3, with an annualized yield of 9%.
Fleet Expansion: Genco agreed to acquire two 2020-built Newcastlemax vessels for delivery in March 2026, boosting fleet size and operating leverage.
Financial Strength: Ended Q4 with $55.5 million cash, $200 million debt, and industry-low net loan-to-value of 12%, plus $400 million in undrawn revolver availability.
Strong Start to 2026: Estimated Q1 2026 TCE stands at $18,000 per day for 80% of the quarter, over 50% above Q1 2025, supporting a higher year-over-year dividend outlook.
Positive Market Fundamentals: Management highlighted firm dry bulk demand, tight supply, and low fleet growth as supportive of continued strength in the sector.
M&A Rejected: Board rejected a recent acquisition proposal, calling it undervalued, and remains focused on shareholder returns and value creation.
