Shipping & Trading Limited is an international ship owning
company. We transport iron ore, coal, grain, steel products
and other drybulk cargoes along worldwide shipping routes.
Our wholly owned modern fleet of dry cargo vessels consists
of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels that provide an
essential link in international trade. Ours is a global industry
and Genco Shipping & Trading Limited is very well placed
to serve it professionally and competitively.
Our merger with Baltic Trading Limited was completed on July 17, 2015. In accordance with the terms of the merger agreement, Baltic Trading is now an indirect wholly-owned subsidiary of Genco Shipping & Trading Limited. Since July 20, 2015, following the completion of the merger, Genco Shipping & Trading Limitedís shares have been trading on the NYSE under the symbol GNK.
On April 21, 2014 Genco filed a voluntary pre-packaged plan of reorganization with strong support of its Secured Lenders and Convertible Noteholders in an effort to strengthen the Companyís balance sheet by reducing its total debt by $1.2 billion.
After a hearing on July 2, 2014, the U.S. Bankruptcy Court issued a Memorandum Opinion and an order confirming the Companyís First Amended Pre-Packaged Plan of Reorganization of the Debtors Pursuant to Chapter 11 of the Bankruptcy Code. For a copy of the Confirmation Order, click here.
On July 9, 2014, the Effective Date of the First Amended Prepack Plan occurred and the Company emerged from bankruptcy. For a copy of the Notice, click here.