Genco Shipping & Trading Limited · NYSE:GNK
Genco Shipping & Trading — Merger or Acquisition (June 2010)
8 slides from Genco Shipping & Trading's merger presentation, Jun 25, 2010
Slide 1: Supramax Fleet Acquisition
Genco Shipping & Trading Limited Supramax Fleet Acquisition June 25, 1 2010
Slide 2: Forward Looking Statements
Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation g 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
Slide 3: Agenda
Agenda Transaction Overview Vessel Details Financial Position Acquisition Payment Schedule 3
Slide 4: Transaction Overview
Transaction Overview Fleet of 13 modern Supramax vessels(1) ― Total capacity of 734,850 DWT ― 12 Supramax vessels in the water ― Average age of 1.7 years ― Built at high quality yards ― 1 Newbuilding Supramax vessel Aggregate purchase price of $440 million Expands fleet by 31% on a tonnage bas
Slide 5: Vessel Details
Vessel Details Price Expected p Earliest Vessel DWT B ilt Date (1) Built Charter Rate (2) (millions) Delivery Expiration Genco Supramax 1 57,981 July 2009 $35.70 Q3 2010 $30,500 (3) May 2012 Genco Supramax 2 57,981 Aug 2009 $35.70 Q3 2010 - - Genco Supramax 3 57,981 Nov 2009 $35.70 Q3 2010 - - Genco
Slide 6: Financial Position
Financial Position June 30, 2010 Projected Cash Projected Cash Before Transactions $215.0 million Less 10% Acquisition Deposits for Metrostar Acquisition $16.6 million Less 10% Acquisition Deposits for Bourbon Acquisition $44.0 million Projected Cash after deposits(1) $154.4 million Proposed Financi
Slide 7: Acquisition Vessel Payment Schedule
Acquisition Vessel Payment Schedule (Dollars in thousands) Expected Deposit as % of Payment on Vessel Name Deposit Payment Total Price Delivery (1) Purchase Price Delivery Metrostar Acquisition Vessels Genco Bay Q3 2010 10% 3,325 29,925 33,250 Genco Ocean Q3 2010 10% 3,325 29,925 33,250 G Genco Avra
Slide 8: Q&A
Q&A 8
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