Where: There are two ways to access the call: What: Second Quarter 2024 Conference Call For live webcast and slide presentation: http://www.gencoshipping.com. NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company's results for the second quarter of 2024 on Thursday, August 8, 2024 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide present ...

Stewart Sutton Genco (NYSE:GNK) is a shipper of drybulk cargo, which I covered in detail back in December. I was primarily looking at the stock for its dividend and rated the shares a Hold. In my conclusion, however, I noted: Genco successfully turned itself around, became profitable, and eliminated debt to the point that I think it's unlikely to go zero. There's more to say about this company from a longer-term outlook, and perhaps that's worth doing once we get farther into 2024 Now that some time has ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) ("Genco" or the "Company") the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced that Genco shareholders have overwhelmingly voted at the Company's Annual Meeting to re-elect to the Company's Board of Directors all seven of Genco's highly qualified director nominees – James G. Dolphin, Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arth ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”) the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced that Genco shareholders have overwhelmingly voted at the Company’s Annual Meeting to re-elect to the Company’s Board of Directors all seven of Genco’s highly qualified director nominees – James G. Dolphin, Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arth ...

Sets the Record Straight on Economou's Campaign Genco Continues Executing on the Comprehensive Value Strategy It Initiated in 2021 Shareholders Should Still Get Their Votes In "FOR" the Re-Election of Genco's Seven Highly Qualified Director Nominees NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) ("Genco" or the "Company") the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regardin ...

Sets the Record Straight on Economou’s Campaign Genco Continues Executing on the Comprehensive Value Strategy It Initiated in 2021 Shareholders Should Still Get Their Votes In “FOR” the Re-Election of Genco’s Seven Highly Qualified Director Nominees NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”) the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regardin ...

Successfully Executing on its Comprehensive Value Strategy Reminds Shareholders to Vote "FOR" Genco's Nominees on the WHITE Proxy Card NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) ("Genco" or the "Company"), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today mailed a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders (the "Annual Meeting"), scheduled to be held on May 2 ...

财务数据和关键指标变化 - 公司在第一季度录得净利润1880万美元,每股基本和摊薄收益分别为0.44美元和0.43美元 [24] - 调整后净利润2140万美元,每股基本和摊薄收益分别为0.50美元和0.49美元 [24] - 第一季度净收入同比增长44%,而经常性成本结构保持大致持平,体现了业务的高度操作杠杆 [25] - 公司的Capesize船舶在第一季度的日均租金收益为25,600美元,较去年同期增加近10,000美元 [25] 各条业务线数据和关键指标变化 - 公司采取"双刃剑"的船队结构,Capesize船舶提供高操作杠杆和上行潜力,而小散货船舶提供更稳定的收益流,并与全球GDP增长更密切相关 [18] - 第一季度公司整体日均租金收益为19,219美元,较第四季度实现环比增长,这在15年多来还是第一次 [12] 各个市场数据和关键指标变化 - 第一季度Capesize市场运价创下15年来同期新高,受大西洋航线船舶供给紧张和巴西天气较干燥影响 [32] - 第二季度至今Capesize和Supramax运价保持坚挺,最近几天分别达到约28,000美元和16,000美元 [33][34] - 巴拿马运河水位偏低导致通航受阻,部分船舶被迫改经苏伊士运河,但苏伊士运河地区商业船只遭遇袭击,进一步影响了全球干散货船队的效率 [34][35] - 中国一季度铁矿石进口量同比增长5%,港口库存自10月以来一直在增加 [36] - 预计2024年中国钢产量将维持2023年水平,而其他国家预计将增长4%,主要由印度8%的增长带动,支持次要散货贸易 [36] - 南美当前正值谷物出口旺季,USDA预计巴西和阿根廷的玉米和大豆出口将大幅增加2500万吨,支撑次要散货运价 [37] 公司战略和发展方向及行业竞争 - 公司在过去3年实施了全面的价值战略,包括通过分红、偿债和增长来提升股东回报 [14][15] - 公司已偿还2.79亿美元债务,同时向股东分配近2亿美元股息,并投资2.36亿美元更新船队 [15] - 公司目标是成为一家低杠杆、高股息的公司,拥有灵活的财务实力在干散货周期中提供回报并进行适度扩张 [14][20][21] - 公司将继续通过出售老旧船舶并购置更节能的新船来优化船队,提高收益能力和股息支付能力 [17] - 行业供给增长预计将保持较低水平,加上短期和长期环保法规的影响,为干散货市场前景提供坚实基础 [38] 管理层对经营环境和未来前景的评论 - 公司认为干散货市场供需基本面保持良好平衡,当需求有小幅上升时就会立即反映在运价上 [52][53] - 公司将继续密切关注市场,适时采取降低风险的策略,如签订一年期租约 [51] - 公司对干散货市场前景持乐观态度,认为供给增长有限将为市场提供坚实基础 [38] 问答环节重要的提问和回答 问题1 **Omar Nokta提问** 提问了近期备受关注的bauxite贸易对Capesize市场的影响 [43][44] **John C. Wobensmith和Peter Allen回答** - bauxite贸易虽然不是新兴贸易,但近年来已成为一个有意义的远洲贸易,为大西洋航线提供了补充 [45][46][47][48][49] - bauxite贸易也存在一定季节性,但整体呈现稳定增长态势,有助于缓解巴西铁矿石出口的波动性 [48][49] 问题2 **Liam Burke提问** 询问公司是否有机会进一步采用Capesize的远期租约,或在次级散货船上进行长期租约 [62][63][64][65] **John C. Wobensmith回答** - 公司会适时采用Capesize远期租约,以降低市场波动风险 [64] - 次级散货船方面,公司更多关注即期市场交易,利用自身的商业平台创造套利机会,但也不排斥在出现合适的长期租约时进行 [65] 问题3 **Sherif Elmaghrabi提问** 询问公司未来自愿偿债的计划,尤其是在债务水平已经很低的情况下 [71][72][73][74][75] **Peter Allen和John C. Wobensmith回答** - 公司将继续自愿偿还债务,以降低利息支出,提高股息支付能力,但也会保留一定资金用于船队更新 [72][73][74][75] - 公司将根据资本配置的需要,灵活调整自愿偿债的节奏,以达到净债务为零的目标 [75]

GENCO SHIPPING & TRADING LIMITED Q1 2024 Earnings Presentation May 9th, 2024 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as "anticipate," "budget," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms ...

Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.52%. A quarter ago, it was expected that this transporter of drybulk cargo would post earnings of $0.37 per share when it actually produced earnings of $0.43, delivering a surprise of 16.22%.Over the last ...