Omar Nokta

Liam Burke

Christopher Robertson

Sherif Elmaghrabi

Bendik Nyttingnes

Ben Nolan

Charles Fratt

C.K. Poe Fratt

Michael Mathison

Poe Fratt

- Genco Shipping & Trading (GNK) maintains a strong financial position with a **7% net loan to value** as of June 30, 2025, having paid down approximately **80% of its debt** over the last five years.  **[1326200_tx_379075_3]**  The company's capital allocation strategy includes a variable quarterly dividend policy, targeting **100% of operating cash flows less a voluntary reserve**, and has paid **24 consecutive quarters of dividends**.  **[1326200_tx_379075_3]** 
- GNK operates **43 ships** with a "barbell approach" but plans to increasingly weight its fleet towards the larger Capesize sector due to expected outperformance and a lower order book.  **[1326200_tx_379075_1]** **[1326200_tx_379075_2]** **[1326200_tx_379075_5]**  The company has a **$600 million revolving credit facility** to support fleet renewal and growth, particularly in Capesize acquisitions.  **[1326200_tx_379075_3]** 
- The dry bulk freight market is firm, with Capesize rates at **$22,000-$23,000 a day** and Supramax rates at **$15,000-$16,000 a day**.  **[1326200_tx_379075_8]**  The global dry bulk order book is historically low at **10-11%**, with **10% of the fleet being 20 years or older**, suggesting new orders are largely replacement tonnage.  **[1326200_tx_379075_4]**  Significant demand growth is anticipated from long-haul ton miles, particularly from iron ore and bauxite out of West Africa and Brazil, which is expected to tighten the market further in 2026-2028.  **[1326200_tx_379075_4]** **[1326200_tx_379075_5]** **[1326200_tx_379075_8]**

Genco Shipping & Trading Discusses Strong Financial Position, Fleet Strategy, and Favorable Dry Bulk Market Outlook

GENCO SHIPPING & TRADING (GNK)