Genco Shipping & Trading to Acquire Capesize Vessel for $47.5 Million-February 2024-www.financetom.com

Genco Shipping & Trading to Acquire Capesize Vessel for $47.5 Million

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Genco Shipping & Trading to Acquire Capesize Vessel for $47.5 Million

Oct 7, 2024 4:23 AM

07:11 AM EDT, 10/07/2024 (MT Newswires) -- Genco Shipping & Trading ( GNK ) said Monday it has agreed to acquire a high-specification 2016 Capesize vessel with a deadweight tonnage of 180,000 for $47.5 million.

The company said it plans to fund the acquisition with cash on hand and a drawdown from its revolving credit facility.

Genco expects to take delivery of the vessel within the next 30 days.

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