Business
Genco Shipping & Trading Limited Announces Delivery of Second High Specification Newcastlemax Vessel This Year
Reflects Strategic Action to Expand Premium Earning Asset Base and Increase Earnings Power and Dividend CapacityNEW YORK, March 24, 2026 (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 it has taken delivery of the Genco Valkyrie, the second of two 2020-built 208,000 dwt scrubber-fitted Newcastlemax vessels that Genco agreed to acqu
About this update from Genco Shipping & Trading Limited
[{"type":"image","alt":"Genco Shipping & Trading Limited","displaySize":"","headline":null,"caption":"Genco Shipping & Trading Limited","className":"","disableSlideshowImg":false,"size":{"original":{"width":264,"height":171,"url":"https://media.zenfs.com/en/globenewswire.com/d119610aed31a333e9df9490da9ed17a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cIIyre1muqm9tEu.3ttOMw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI3Mg--/https://media.zenfs.com/en/globenewswire.com/d119610aed31a333e9df9490da9ed17a","width":264,"height":171}},"lazy":false},{"type":"text","content":"Reflects Strategic Action to Expand Premium Earning Asset Base and Increase Earnings Power and Dividend Capacity","length":112,"tagName":"p"},{"type":"text","content":"NEW YORK, March 24, 2026 (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 it has taken delivery of the Genco Valkyrie, the second of two 2020-built 208,000 dwt scrubber-fitted Newcastlemax vessels that Genco agreed to acquire in November 2025.","length":413,"tagName":"p"},{"type":"text","content":"John C. Wobensmith, Chairman and Chief Executive Officer, commented, “We are pleased to complete the delivery of our second high-specification Newcastlemax vessel this year, during a period of continued strength in the drybulk market. Consistent with our first delivery earlier this month, the vessel will be deployed in the firm spot market, where it is expected to earn a premium to benchmark indices based on its high specifications and larger size. The purposeful steps we have taken to add premium earning vessels to our fleet, combined with our significant operating leverage, position Genco to continue to drive increased earnings and superior returns to shareholders going forward.”","length":690,"tagName":"p"},{"type":"text","content":"About Genco Shipping & Trading Limited","length":42,"tagName":"p"},{"type":"text","content":"Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We transport key cargoes such as iron ore, coal, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, moder...