ShippingWatch

Bulk carrier Genco Shipping padded with "significant war chest"

According to Deutsche Bank, US-based dry bulk carrier Genco Shipping is unusually well equipped for fleet acquisitions after refinancing all its credit lines.

New York-listed dry bulk carrier Genco Shipping achieved an operating profit (EBITDA) of USD 24.8 million in the first quarter and a net deficit of USD 55.2 million.

However, the most noteworthy thing about the share is the company's well-padded "war chest," writes Deutsche Bank's shipping analysts in a comment on Genco Shipping's interim report.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

Further reading

Related articles

Latest news

See all jobs