02/11/2017at 13:17

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.

by DANIEL LOGAN

Genco Shipping & Trading reports stronger rate developments in the dry bulk sector where growing demand for in particular iron ore and coal is driving rates up.

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Impairment drags Genco further down

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Related articles:

Genco Shipping hires Clipper Bulk exec

The dry bulk carriers lost billions again in 2016

Genco's results reflect stronger bulk market

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Front page now

Car carriers have rarely seen such profits: "We are probably at an all-time high"

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Fredriksen now owns nearly as many Euronav shares as the Saverys family

Blue Water founder promises future "focus on profitable growth"

EU considers capping Russian fuel prices at USD 100 a barrel

Borr Drilling raises USD 400m to pay off debt

Further reading

Johan Sigsgaard: Maersk has no ambitions of entering new major alliance

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

End of 2M alliance could trigger a domino effect

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