Genco Shipping & Trading Limited · NYSE:GNK

Genco Shipping & Trading — Merrill Lynch Global Transportation Conference 2007

17 slides from Genco Shipping & Trading's conference presentation, Jun 13, 2007

1. Slide 1: Genco Shipping & Trading Limited

   Genco Shipping & Trading Limited Merrill Lynch Transportation Conference June 13, 2007

2. Slide 2: Forward Looking Statements

   Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements ar

3. Slide 3: Agenda

   Agenda „ Company Overview „ Industry Highlights 06/13/07 3

4. Slide 4: Company Overview

   Company Overview

5. Slide 5: Summary

   Summary Issuer Genco Shipping & Trading Limited Ticker / Exchange GNK / NYSE Date of Initial Public Offering July 22, 2005 Target Dividend $0.66 per share, per quarter Shares Outstanding 25.52 Million Annualized Dividend Yield (as of June 12, 2007) 7% Pro Forma Net Debt to Total Cap(1) 37% Available

6. Slide 6: Genco Overview

   Genco Overview „ Owns 19 vessels acquired since December 2004 ― 7 Panamax, 7 Handymax, 5 Handysize vessels ― Combined carrying capacity of approximately 988,000 dwt „ Average fleet age of 9 years, compared to industry average of approximately 15 years „ Approximately 92% of 2007 remaining available

7. Slide 7: Fleet Employment

   Fleet Employment (1) (2) Vessel Name Year Built Charterer Time Charter Rate ($) Charter Expiration Panamax Genco Beauty 1999 Cargill 31,500 April, 2009 Genco Knight 1999 SK Shipping Ltd. 37,700(3) May, 2009 Genco Vigour 1999 STX Panocean 29,000(4) March, 2009 Genco Leader 1999 A/S Klaveness 25,650(5

8. Slide 8: First Quarter 2007 and Year to Date Highlights

   First Quarter 2007 and Year to Date Highlights „ Net Income of $19.8 million for the first quarter of ‘07 ― Basic and diluted earnings per share of $0.78 „ Net Income of $16.3 million for the first quarter of ’07 excluding the gain on the sale of the Genco Glory ― Basic and diluted earnings per shar

9. Slide 9: Strong Balance Sheet

   Strong Balance Sheet Selected Financial Information Pro Forma 03/31/07* (Dollars in thousands) Balance Sheet Liquidity Position** Cash $43,719 Revolving Credit Facility $650,000** Debt $239,233 Shareholders’ Equity $339,325 Undrawn Facilities $443,767 Cash $43,719 Net Debt $195,514 Total Capitalizat

10. Slide 10: Dividend Declaration & Policy

    Dividend Declaration & Policy „ Paid a Q1 2007 dividend of $0.66 per share on May 31st, 2007 to all Period Declared Dividend (1) shareholders of record as of May Q3 2005 $0.60 17th, 2007 „ Cash reserves are determined by Q4 2005 $0.60 our Board of Directors Q1 2006 $0.60 ― Fleet maintenance, renewal

11. Slide 11: Growth Strategy: Timing Is Everything

    Growth Strategy: Timing Is Everything „ Opportunistic and prudent acquisition strategy ― Accretive earnings and cash flows while maintaining a disciplined approach to return Pursue Accretive on capital Acquisitions „ Revolver is primary driver of growth strategy ― Accretive to shareholders and reduc

12. Slide 12: Significant Opportunities in Fragmented Industry

    Significant Opportunities in Fragmented Industry „ No single owner owns more than 5% of the vessels within each class „ Drybulk industry has similarities to the tanker industry in 1999 Ownership 100.0% 80.0% % of Total Fleet 60.0% Consolidation Opportunities 40.0% 20.0% 15.9% 14.3% 13.0% 0.0% Panama

13. Slide 13: Industry Highlights

    Industry Highlights

14. Slide 14: Chinese Steel Production Continues to Drive the Market

    Chinese Steel Production Continues to Drive the Market „ Continued strong demand resulted in YOY growth for Chinese steel production and iron ore imports at 23% through April of 2007 „ Peak levels of port congestion during the last half of 2006 and first quarter of 2007 pushed rates up and maintain

15. Slide 15: Appendices

    Appendices

16. Slide 16: Appendix I Pro Forma Reconciliation

    Appendix I Pro Forma Reconciliation 03/31/07 (Dollars in thousands) 03/31/07 Actual Adjustment* 03/31/07 Pro Forma Cash $87,158 ($43,439) $43,719 Debt $206,233 33,000 $239,233 Net Debt** $119,075 - $195,514 Shareholders’ Equity $356,167 ($16,842) $339,325 Total Capitalization $475,242 - $534,839 * M

17. Slide 17: Appendix II Net Debt & Total Capitalization Reconciliation

    Appendix II Net Debt & Total Capitalization Reconciliation Pro Forma 03/31/07* (Dollars in thousands) 03/31/07 Pro Forma Debt $239,233 Less: Pro Forma Cash* $43,719 Pro Forma Net Debt $195,514 Plus: Pro Forma Shareholders’ Equity* $339,325 Total Pro Forma Capitalization $534,839 * March 31, 2007 pro

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