Ben Nolan's questions to Genco Shipping & Trading Ltd (GNK) leadership • Q3 2024
Question
An analyst on behalf of Ben Nolan from Stifel asked about the company's target leverage following the dividend policy change and inquired about the chartering strategy for Capesize contracts that are set to roll off early next year.
Answer
Executive John Wobensmith reiterated the company's goal of being net debt zero to support the dividend policy, while noting the large revolver allows for levering up into the 20% range for the right growth opportunity. Regarding future charters, he described the strategy as 'opportunistic,' utilizing a mix of index-linked and fixed-rate deals depending on market conditions at the time.