Genco Shipping & Trading Limited
- Open
- 25.11
- Day high
- 25.43
- Day low
- 25.00
- Prev close
- 25.17
- Volume
- 160K
- Mkt cap
- $1.1B
- P/E (TTM)
- 67.3
- EPS (TTM)
- $0.38
- P/B
- 0.0
- P/S
- 2.9
- Yield
- 4.55%
- Per share
- $1.15
- ▼Insiders net selling -$1.9M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Genco Shipping & Trading Limited (GNK) is a Industrials company listed on NYSE. The stock is up 68% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Genco Shipping & Trading Limited (GNK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GNK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.03 | $0.26 | +660.7% | $72M | +9.5% |
| Feb 17, 2026 | $0.35 | $0.39 | +11.4% | $110M | +43.9% |
| Nov 5, 2025 | $-0.01 | $-0.01 | +0.0% | $80M | +1.8% |
| May 7, 2025 | $-0.26 | $-0.28 | -7.7% | $71M | +70.2% |
| Feb 19, 2025 | $0.56 | $0.29 | -48.2% | $99M | +127.5% |
| Feb 21, 2024 | $0.37 | $0.43 | +16.2% | $116M | +60.5% |
| Aug 4, 2023 | $0.24 | $0.27 | +12.5% | $91M | +32.6% |
| May 3, 2023 | $0.13 | $0.06 | -53.8% | $94M | +42.7% |
| Feb 22, 2023 | $0.64 | $0.67 | +4.7% | $127M | +64.0% |
| Aug 3, 2022 | $1.12 | $1.10 | -1.8% | $138M | +26.2% |
| May 4, 2022 | $0.98 | $0.97 | -1.0% | $136M | +48.3% |
| Feb 24, 2022 | $1.96 | $1.99 | +1.5% | $183M | +39.2% |
GNK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | REGAN ARTHUR Ldirector | Grant | 5,545 | — |
| Jun 23, 2026 | Das Paramitadirector | Option | 9,554 | — |
| Jun 23, 2026 | MAVROLEON BASIL Gdirector | Grant | 5,545 | — |
| Jun 23, 2026 | Das Paramitadirector | Grant | 5,545 | — |
| Jun 23, 2026 | HAINES KATHLEEN Cdirector | Grant | 5,545 | — |
| Jun 23, 2026 | Orsel Karin Ydirector | Grant | 5,545 | — |
| Jun 23, 2026 | Das Paramitadirector | Option | 9,554 | — |
| Jun 23, 2026 | HAINES KATHLEEN Cdirector | Grant | 2,054 | — |
| May 28, 2026 | MAVROLEON BASIL Gdirector | Grant | 194 | — |
| May 28, 2026 | REGAN ARTHUR Ldirector | Grant | 93 | — |
| May 28, 2026 | HAINES KATHLEEN Cdirector | Grant | 93 | — |
| May 28, 2026 | HAINES KATHLEEN Cdirector | Grant | 116 | — |
| May 28, 2026 | HAINES KATHLEEN Cdirector | Grant | 110 | — |
| May 28, 2026 | MAVROLEON BASIL Gdirector | Grant | 227 | — |
| May 28, 2026 | MAVROLEON BASIL Gdirector | Grant | 27 | — |
Source: GNK SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full GNK insider & 13F page →Genco Shipping & Trading Limited company profile
Overview
Genco Shipping & Trading Limited (NYSE:GNK) is a New York-based dry bulk shipping company that was incorporated in 2004 and went public in 2014. The company owns and operates a fleet of dry bulk carrier vessels that transport essential commodities like iron ore, coal, grains, and steel products across global trade routes. Over the past few years, Genco has transformed from a highly leveraged shipping company into a financially robust operator with minimal debt, focusing on returning capital to shareholders through consistent dividends while strategically renewing its fleet with modern, fuel-efficient vessels.
Business
Genco operates in the dry bulk shipping industry, which is a critical component of global maritime trade that facilitates the transportation of unpackaged bulk commodities. The dry bulk shipping sector is distinct from other maritime segments like container shipping or tankers, as it specializes in carrying loose cargo materials that are loaded directly into a ship's cargo holds without containers or packaging. The company's core business involves owning and operating dry bulk carrier vessels of various sizes to transport commodities worldwide. These ships are essentially floating warehouses designed with large cargo holds that can carry thousands of tons of raw materials. Genco's fleet consists of three main vessel categories: Capesize vessels (the largest ships, typically 150,000+ deadweight tons), Ultramax vessels (around 60,000-65,000 deadweight tons), and Supramax vessels (around 50,000-60,000 deadweight tons). As of recent reports, the company operates 44 vessels with approximately 4.6 million deadweight tons of total capacity. The commodities transported include iron ore (used in steel production), coal (for energy generation), grains (wheat, corn, soybeans for food supply), steel products, and other dry bulk materials essential to global industrial and agricultural supply chains. The shipping routes typically connect major commodity-producing regions like Australia, Brazil, and the United States with consuming markets in Asia, Europe, and other industrial centers. Genco has been strategically focusing on larger Capesize and mid-size Ultramax vessels, which tend to be more efficient and profitable than smaller vessel classes.
Revenue model
Genco generates revenue primarily through vessel chartering, where it leases its ships to customers who need to transport dry bulk commodities. The company employs two main chartering strategies: spot market charters and time charters. In spot market arrangements, vessels are chartered for individual voyages at prevailing market rates, while time charters involve leasing vessels for extended periods at fixed daily rates. The company's customers include trading houses (large commodity trading companies like Cargill or Trafigura), commodity producers (mining companies, grain producers), and government-owned entities that need to move bulk materials. Revenue is typically measured in Time Charter Equivalent (TCE) rates, expressed as dollars per day, which represents the net daily earnings after voyage expenses. Several factors significantly impact Genco's profitability margins. Positive margin drivers include strong global commodity demand (particularly from China and developing Asia), supply chain disruptions that increase shipping distances and demand for vessels, low newbuilding order books that constrain vessel supply, and seasonal patterns like increased grain shipments during harvest periods. The company's modern, fuel-efficient vessels with scrubber technology also provide cost advantages. Negative margin pressures come from economic slowdowns that reduce commodity demand, increased vessel supply from new ship deliveries, fuel price volatility, port congestion that reduces vessel utilization, and geopolitical disruptions that can temporarily disrupt trade routes. The dry bulk market is inherently cyclical and volatile, with rates capable of swinging dramatically based on supply-demand imbalances. Environmental regulations requiring cleaner fuels or emissions controls also create ongoing compliance costs.
Competitive moat
Genco operates in the highly commoditized dry bulk shipping industry, which generally lacks strong competitive moats. The company's modest competitive advantages stem from its modern, fuel-efficient fleet composition and strong balance sheet position rather than any fundamental business model differentiation. The company's primary defensive characteristics include its high-quality vessel portfolio, with newer ships equipped with scrubber technology that provides fuel cost advantages and environmental compliance. Genco's financial flexibility, achieved through aggressive debt reduction to near-zero net debt levels, allows it to weather market downturns better than highly leveraged competitors and opportunistically acquire vessels when prices decline. However, the dry bulk shipping industry is fundamentally fragmented and competitive, with hundreds of operators worldwide competing primarily on price. Vessels are largely interchangeable commodities, and customers typically charter ships based on availability, location, and cost rather than brand loyalty. Barriers to entry are relatively low for well-capitalized players, as vessels can be purchased on the secondhand market or ordered from shipyards. The industry faces potential disruption from environmental regulations that could accelerate fleet obsolescence, technological changes in cargo handling or ship design, and shifts in global trade patterns that could alter shipping demand. Additionally, the cyclical nature of commodity markets means that even well-positioned operators like Genco remain vulnerable to extended periods of weak shipping rates that can pressure profitability regardless of operational efficiency.
Risks & safety
Genco presents a strong margin of safety from a financial stability perspective, though remains exposed to market cyclicality risks. **Financial Strength:** - Net loan-to-value ratio of approximately 6%, indicating minimal leverage risk - $324 million in undrawn revolver availability providing substantial liquidity buffer - Current ratio of 1.79 and quick ratio of 1.28 showing adequate short-term liquidity - No mandatory debt repayments until 2026, reducing refinancing pressure **Valuation Metrics:** - Price-to-book ratio of 0.64, suggesting the stock trades below asset value - EV/EBITDA of 18.5x appears elevated due to cyclically depressed Q1 2025 earnings - Historical P/E ratios in mid-single digits during stronger market periods - Current scrap value of fleet significantly exceeds outstanding debt obligations **Other Considerations:** - Consistent dividend payments over 20 consecutive quarters demonstrate management's commitment to shareholder returns - Fleet renewal strategy focusing on modern, efficient vessels should maintain asset values - Exposure to volatile commodity shipping markets creates earnings unpredictability despite strong balance sheet
Recent development
Over the past few years, Genco has executed a comprehensive strategic transformation focused on three key pillars: dividend payments, deleveraging, and fleet renewal. The company has aggressively reduced its debt burden by voluntarily paying down nearly $500 million since 2021, bringing its net loan-to-value ratio from over 30% to just 6% currently. The fleet renewal strategy has involved a "barbell" approach, concentrating on larger Capesize vessels and mid-size Ultramax/Supramax ships while exiting smaller, less efficient vessel classes. Since 2021, Genco has invested approximately $285 million in acquiring modern, high-specification vessels including three Capesize ships in 2024 alone, while simultaneously divesting older, smaller vessels to improve overall fleet efficiency and reduce maintenance costs. Genco has maintained consistent dividend payments for over 20 consecutive quarters, returning over $170 million to shareholders since 2019. The company recently implemented a $50 million share repurchase program as an additional capital return mechanism, though management continues to prioritize dividends over buybacks. The company has also focused on operational efficiency improvements, including reducing drydocking capital expenditure by $13 million through strategic fleet renewal and achieving TCE rates that consistently outperform market benchmarks. Management has positioned the company to "play offense" during market downturns by maintaining financial flexibility to acquire additional vessels opportunistically while continuing shareholder returns even during weaker market conditions.
GNK company profile · for informational purposes only — not investment advice.
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