Genco plans to buy more vessels during dry bulk boom

The dry bulk market in the first quarter gave Genco Shipping & Trading both a profit and an appetite for buying more vessels to benefit from a long-term upturn in the market, says the company in its interim report.

Photo: PR / Genco Shipping

US-based dry bulk carrier Genco Shipping & Trading returned to the black in a first quarter that proved historically strong for dry bulk.

The shipping company exits the first quarter with a USD 87 million revenue against USD 98.3 million in the same quarter last year. The bottom line ended in the black with a USD 1.9 million profit, a significant improvement from last year's USD 120.3 million deficit in the first three months of the year, shows the company's unaudited financial report Friday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • 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

Further reading

Related articles

Latest news

See all jobs