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Home / Shipping News / International Shipping News / Genco Shipping & Trading Completes Ultramax Acquisition and Divestiture Portion of Fleet Renewal Plan, Declares a Regular Quarterly Cash Dividend of $0.02 per Share Genco Shipping & Trading Completes Ultramax Acquisition and Divestiture Portion of Fleet Renewal Plan, Declares a Regular Quarterly Cash Dividend of $0.02 per Share Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, yesterday reported its financial results for the three mo...

Genco swaps old for new December 22, 2020, by Naida Hakirevic U.S.-based drybulk shipowner Genco Shipping & Trading Limited has entered into an agreement to acquire three eco Ultramax vessels in exchange for six older Handysize ships. As explained, the transaction is part of Genco’s efforts to modernize its fleet and create a more focused asset base while reducing its carbon footprint. The agreement is structured as an asset swap without monetary consideration or additional capital required. The three Ultramaxes acquired by Genco will be renamed...

December 22, 2020 The 2010-built Genco Ocean is one of six Handysize bulk carriers traded away by Genco in the no cash asset swap. (© F. Ybancos / MarineTraffic.com) Genco Shipping & Trading has entered into an agreement to acquire three modern, eco Ultramax bulk carriers in exchange for six older Handysize vessels, the largest U.S. headquartered dry bulk shipowner announced Monday.  The transaction with an unnamed trading partner is structured as an asset swap without monetary consideration or additional capital required. The vessels are scheduled to be delivered to both pa...

Home / Shipping News / International Shipping News / Genco Shipping & Trading to Acquire Three Modern, Fuel-Efficient Ultramax Vessels in Exchange for Six Older Non-Core Handysize Vessels Genco Shipping & Trading to Acquire Three Modern, Fuel-Efficient Ultramax Vessels in Exchange for Six Older Non-Core Handysize Vessels Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, today announced that it has entered into an agreement to acquire three modern, eco Ultramax vessels in exchange for s...