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Read all the latest news about Genco Shipping. ShippingWatch gives you independent, credible, critical and fair news.

Genco paid high price for impairments and strategy change

A dive in revenue, fleet impairments and a switch from time charter to the spot market came at a high price for dry bulk operator Genco Shipping in the second quarter. But the shipping company has booked its fleet at 50 percent higher rates in the third quarter on top of a market recovery.

Dry bulk carriers still believe in 2019 upturn

Although 2019 got off to a rocky start, in part due to January's dam catastrophe in Brazil, several prominent dry bulk shipping companies maintain their belief that the market will improve in the second half of 2019 and in 2020.

Genco made a profit in the third quarter

Dry bulk carrier Genco Shipping & Trade finished the third quarter with black numbers on the bottom line due to a better dry bulk market. However, the profit is not enough to ensure an overall profit for the first nine months of the year.

Impairment drags Genco further down

Dry bulk carrier Genco Shipping & Trading saw its deficit deepen in the third quarter after booking an impairment, though stronger rates drove revenue up. CEO eyes improving market fundamentals in dry bulk.

Genco's results reflect stronger bulk market

Dry bulk carrier Genco Shipping increased revenue in the second quarter and reports a much smaller deficit. The positive development is mainly attributable to higher daily rates.

Nine bulk carriers lost USD 721 million in six months

The major bulk carriers listed in the US had a miserable first half of the year with a massive aggregate deficit, according to review by Alphabulk. The companies look set to lose over one billion US dollars in 2016.

New major deficit for bulker Genco Shipping

Just shy of USD 111 million. That is how much one of the hardest-hit bulk carriers in recent years, Genco Shipping, lost in a single quarter in 2016, in which creditors have made more credit available.

Genco Shipping lost USD 194.9 million in 2015

Dry bulk carrier Genco, which also collaborates in a pool with Denmark's Clipper Group, suffered a massive loss for 2015 just like the rest of the industry. However, the result represents a big improvement from the losses in 2014.

Genco Shipping reduces deficit

Dry bulk carrier Genco Shipping & Trading, which has pool collaborations with Clipper, delivered a somewhat reduced deficit in the second quarter 2015, but the company is still hit hard by the dry bulk downturn.

Clippers pool-partner mindsker sit underskud

Tørlastrederiet Genco Shipping & Trading, der har et pool-samarbejde med Clipper, leverer et noget mindre underskud i andet kvartal 2015, men selskabet er stadig hårdt ramt af krisen i tørlastsektoren.

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