Genco Shipping and Trading Ltd.

Public Company, Headquarters Location
299 Park Ave., 20th Fl., New York, NY 10171-0002, United States
(646)443-8550, http://gencoshipping.com

Primary SIC: Deep Sea Foreign Transport Of Freight, Primary NAICS: Deep Sea Freight Transportation
Description: Genco Shipping and Trading Limited is a New York City-based company, incorporated in the Marshall Islands in 2004. The company transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco's fleet currently consists of 32 drybulk carriers, 14 of which were acquired from a subsidiary of The China National Cereals Oil and Foodstuffs Corp.COFCO in 2004 and 2005. The Genco Muse was acquired in October 2005 from Western Bulk Carriers, and in November 2006, the company took delivery of three drybulk vessels from affiliates of Franco Compania Naviera S.A. In July 2007, the company entered into an agreement to acquire nine Capesize vessels from companies within Metrostar Management Corporation. Genco has taken delivery of six of these vessels and expects to take delivery of the remaining three vessels in 2009. In 2007 and 2008, the company acquired six drybulk vessels (three Supramax and three Handysize) from affiliates of Evalend Shipping Co. S.A. Additionally, the company acquired three 2007-built vessels, consisting of two Panamax vessels and one Supramax vessel from Bocimar Internation N.V. and Delphis N.V. during 2008. Twenty-nine of the 32 vessels in the company's fleet are on time charter contracts.Transportation: Dry goods transportation via water.