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 Limited** announced the delivery of the **Genco Courageous**, a **2020-built 182,000 dwt scrubber-fitted Capesize vessel**.  **[1326200_1683336f7ad4455ebceb337ad26370b2_0]** 
- This delivery is part of approximately **$200 million invested in modern Capesize vessels since October 2023**, aimed at modernizing the asset base and enhancing earnings capacity.  **[1326200_1683336f7ad4455ebceb337ad26370b2_0]** 
- The company's fleet now consists of **43 vessels** with an average age of **12.7 years** and an aggregate capacity of approximately **4,628,000 dwt**.  **[1326200_1683336f7ad4455ebceb337ad26370b2_0]**

Genco Shipping & Trading Announces Delivery of Capesize Vessel

- Genco Shipping & Trading Limited's Board of Directors adopted a **limited duration shareholder rights plan**, effective immediately, which is set to **expire on September 30, 2026**.  **[1326200_0001140361-25-036920_ef20056486_ex99-1.htm:0]** 
- The plan issues **one right for each share of common stock outstanding as of October 13, 2025**.  **[1326200_0001140361-25-036920_ef20056486_ex99-1.htm:0]** **[1326200_0001140361-25-036920_ef20056486_ex4-1.htm:0]** **[1326200_0001140361-25-036920_ef20056486_8k.htm:1]** 
- These rights generally become exercisable if an entity or group acquires **15% or more** of the company's common stock in a transaction not approved by the Board.  **[1326200_0001140361-25-036920_ef20056486_ex99-1.htm:0]** **[1326200_0001140361-25-036920_ef20056486_ex4-1.htm:1]** **[1326200_0001140361-25-036920_ef20056486_8k.htm:2]** 
- The plan aims to protect shareholder interests by reducing the likelihood that any entity would gain control or significant influence without paying an appropriate control premium.  **[1326200_0001140361-25-036920_ef20056486_ex99-1.htm:0]** **[1326200_0001140361-25-036920_ef20056486_8k.htm:1]** 
- If triggered, holders (excluding the acquiring entity) can purchase shares of common stock with a market value of **twice the exercise price** of **US$107.00** for one one-thousandth of a share of Series B Preferred Stock, or the Board may exchange each right for one share of common stock.  **[1326200_0001140361-25-036920_ef20056486_ex99-1.htm:0]** **[1326200_0001140361-25-036920_ef20056486_8k.htm:1]** **[1326200_0001140361-25-036920_ef20056486_8k.htm:2]** **[1326200_0001140361-25-036920_ef20056486_ex4-1.htm:51]** **[1326200_0001140361-25-036920_ef20056486_ex4-1.htm:67]**

Genco Shipping & Trading Limited Adopts Limited Duration Shareholder Rights Plan

- 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)