GENCO SHIPPING & TRADING (GNK) Company Report

Genco Shipping & Trading Limited reported a net loss attributable to Genco Shipping & Trading Limited of $(1.053) million and basic earnings per share of $(0.02) for Q3 2025, with revenues totaling $79.921 million.
The company's Adjusted EBITDA for Q3 2025 was $21.695 million , and the total Time Charter Equivalent (TCE) rate was $15,959.
A dividend of $0.15 per share was declared for Q3 2025.
As of Q3 2025, debt outstanding was $100 million , and cash (including restricted cash) stood at $89.951 million.
For Q4 2025, the estimated cash flow breakeven rate (excluding drydocking capex) is approximately $9,000 , with no mandatory debt repayments scheduled.

Nov 6, 2025, 1:30 PM

Presentation

Genco Shipping & Trading Limited Reports Q3 2025 Results and Q4 Outlook

GNK

Earnings

Dividends

New Projects/Investments

Genco Shipping & Trading Limited reported a net loss of $1.1 million and an adjusted net loss of $0.01 per share for Q3 2025, with Adjusted EBITDA totaling $21.7 million, representing a 52% increase from Q2.
The company declared a Q3 2025 dividend of $0.15 per share and projects a strong Q4, with 72% of owned available days fixed at approximately $20,000 per day fleet-wide, significantly exceeding the estimated $10,000 per day cash flow break-even rate.
Since 2021, Genco has invested $347 million in modern vessels, distributed $264 million in dividends, and reduced debt by $279 million, bringing the total debt outstanding to $170 million.
Genco completed 90% of its 2025 dry docking schedule by the start of Q4 and acquired a 2020-built Capesize vessel in October, which is the fourth high-specification Capesize vessel acquired since Q4 2023.
A poison pill was adopted in early October in response to a shareholder accumulating a nearly 15% position, structured to be shareholder-friendly for less than a year.

Nov 6, 2025, 1:30 PM

Transcript

Genco Shipping & Trading Limited Announces Q3 2025 Financial Results and Dividend

GNK

Earnings

Dividends

New Projects/Investments

Genco Shipping & Trading Limited reported a net loss of $1.1 million, or $0.02 basic and diluted net loss per share, and an adjusted net loss of $0.4 million, or $0.01 basic and diluted loss per share, for Q3 2025.
The company declared a $0.15 per share dividend for Q3 2025, representing its 25th consecutive quarterly dividend.
For Q3 2025, voyage revenues were $79.9 million, and adjusted EBITDA was $21.7 million.
Genco estimates its Q4 2025 average daily fleet-wide TCE to date at $20,101 for 72% of its owned fleet available days.
The company acquired the Genco Courageous in October 2025 and amended its credit facility in July to establish a $600 million revolving credit facility.

Nov 5, 2025, 9:48 PM

8-K

Genco Shipping & Trading Limited Reports Q3 2025 Financial Results

GNK

Earnings

Dividends

New Projects/Investments

Genco Shipping & Trading Limited reported a net loss of $1.1 million, or $0.02 per share, for the third quarter of 2025, with voyage revenues of $79.9 million and an average daily fleet-wide TCE of $15,959 per day.
The company declared a $0.15 per share dividend for Q3 2025, marking its 25th consecutive quarterly dividend.
In October 2025, Genco acquired the Genco Courageous, a Capesize vessel, for $63.6 million, and in July 2025, it amended its credit facility to establish a $600 million revolving credit facility.
The estimated TCE for Q4 2025 to date is $20,101 per day for 72% of its owned fleet available days, which is more than 25% higher than Q3.
As of September 30, 2025, the company maintained a strong liquidity position of $520.0 million, comprising $90.0 million in cash and $430.0 million in revolver availability.

Nov 5, 2025, 9:20 PM

Press Release

Genco Shipping & Trading Announces Delivery of Capesize Vessel

GNK

New Projects/Investments

Genco Shipping & Trading Limited announced the delivery of the Genco Courageous, a 2020-built 182,000 dwt scrubber-fitted Capesize vessel.
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.
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.

Oct 16, 2025, 10:55 AM

Press Release

Genco Shipping & Trading Limited Adopts Limited Duration Shareholder Rights Plan

GNK

M&A

Takeover Bid

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.
The plan issues one right for each share of common stock outstanding as of October 13, 2025.
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.
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.
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.

Oct 1, 2025, 4:12 PM

8-K

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

GNK

Dividends

New Projects/Investments

Revenue Acceleration/Inflection

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. 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.
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. The company has a $600 million revolving credit facility to support fleet renewal and growth, particularly in Capesize acquisitions.
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. 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. 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.

Sep 3, 2025, 7:24 PM

Earnings Transcripts

Quarterly earnings call transcripts for GENCO SHIPPING & TRADING.

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