Genco Shipping & Trading (GNK) Reports Delivery of First High Specification Newcastlemax Vessel
Genco Shipping & Trading Limited has taken delivery of the Genco Stars and Stripes, a 2020-built Newcastlemax vessel. The company expects the second Newcastlemax vessel to be delivered by the end of March, further enhancing its earnings power and dividend capacity.
Genco Shipping & Trading Limited has taken delivery of a new vessel. The Genco Stars and Stripes is a 2020-built Newcastlemax vessel with a capacity of 208,000 dwt. It will be deployed in the current spot market, earning a premium due to its high specifications. The company expects to deliver a second Newcastlemax vessel by the end of March. This will increase its fleet to 45 vessels with an aggregate capacity of approximately 5,044,000 dwt. Genco Shipping & Trading Limited is a US-based drybulk ship owning company focused on global transportation of commodities.
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