Genco Shipping & Trading Limited · NYSE:GNK

Genco Shipping & Trading — Merger or Acquisition (July 2007)

9 slides from Genco Shipping & Trading's merger presentation, Jul 19, 2007

  1. Slide 1: Capesize Acquisition Conference Call

    Genco Shipping & Trading Limited Capesize Acquisition Conference Call July 19, 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 „ Transaction Overview „ Vessel Details „ Industry Update „ New Credit Facility Overview „ Jinhui Shipping & Transportation Update „ Q2 Preliminary Breakeven Results 07/19/07 3

  4. Slide 4: Transaction Overview

    Transaction Overview „ Nine Capesize vessels (ranging from 170,500 – 180,000 DWT) with total capacity of approximately 1.6 million DWT ― Expands fleet by 159% on a tonnage basis „ Transaction consists of seven newbuildings and two vessels built in January 2007 – all in well-established shipyards „ F

  5. Slide 5: Vessel Details

    Vessel Details Vessel TBN DWT Yard Built (1) Charterer Duration Rate (2) Ferro Goa Genco Augustus 180,000 Imabari Q1 2007 Cargill 35 to 39 Months 45,263 Ferro Fos Genco Tiberius 175,000 Universal Q1 2007 Cargill 35 to 39 Months 45,263 Hull 1044 Genco London 177,000 SWS Q4 2007 SK Shipping 35 to 39 M

  6. Slide 6: Industry Update

    Industry Update „ Continued demand resulted in YOY growth for Chinese steel production at 19.5% and iron ore imports at 17.6% through Q2 2007 „ Port congestion remains a factor in keeping rates firm „ Chinese coal cabotage trade continues to take supply out of the market „ World fleet increased in s

  7. Slide 7: New Credit Facility Overview

    New Credit Facility Overview „ Use of Proceeds Amount Up to $1.377 billion ― $1.1 billion to purchase the vessels Term 10 Years ― $206 million to retire existing facility LIBOR + 0.80% Interest Rate ― $77 million to retire short- annually (1) term line Commitment .25% annually on „ $3.6 million of d

  8. Slide 8: Jinhui Shipping & Transportation Update

    Jinhui Shipping & Transportation Update „ Genco currently owns a total of 14,180,400 shares or 16.87% of the total outstanding shares „ The Company has financed a portion of the share purchases with borrowings under the short-term revolving line of credit ― A total of $77 million has been drawn „ As

  9. Slide 9: Q2 Preliminary Breakeven Results

    Q2 Preliminary Breakeven Results „ Quarterly DVOE ― Q2 projected DVOE of approximately $3,735 per day per vessel „ Quarterly G&A Expenses ― Q2 projected G&A expenses of approximately $1,750 per day per vessel „ Quarterly Interest Expense ― Q2 projected interest expense of approximately $2,360 per da

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