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.

Photo: Ritzau Scanpix/AP/Dimitri Messinis

New York-listed bulk carrier Genco Shipping & Trading, which over the last few years has found itself in a chronic financial crisis and was formerly under Chapter 11 protection, delivered a net loss in the second quarter of 2016 of USD 110.7 million. In comparison, the carrier booked a net loss of USD 40.3 million in the same period last year.

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