For Q1 FY2026 ended March 31, 2026, Genco Shipping & Trading Ltd. reported revenue of $114.4 million, up 60.6% year-over-year. Net income was $9.3 million, a 178.1% increase, and diluted EPS was $0.21, up 175.0%. Operating income rose 236.3% to $13.3 million. The company had $54.8 million in cash, $885.4 million in equity, and $318.9 million in long-term debt.
•Revenue increased 60.6% YoY to $114.4 million.
•Net income surged 178.1% to $9.3 million; diluted EPS was $0.21.
•Operating income rose 236.3% to $13.3 million.
•Cash stood at $54.8 million, equity at $885.4 million, long-term debt at $318.9 million.
Informational summary based on SEC XBRL figures · generated by deepseek-v4-flash. Not investment advice.
Genco Shipping & Trading provides the ocean transportation of drybulk cargoes globally. Its business is organized into two segments: major bulk and minor bulk fleet. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and drybulk cargoes.
It charters its vessels primarily to trading houses, including commodities traders. Its portfolio also includes producers, and government-owned entities. Incorporated in 2004, Genco Shipping & Trading is headquartered in New York, New York.
What does Genco Shipping & Trading Limited (GNK) do?
Genco Shipping & Trading Limited is a marine shipping company that provides ocean transportation of drybulk cargoes on a global scale. The company operates a fleet of dry bulk vessels that transport a variety of commodities including iron ore, grains, coal, steel products, and other drybulk cargoes. Its operations are organized into two segments: the major bulk fleet and the minor bulk fleet. The major bulk fleet focuses on large-volume commodities like iron ore and coal, while the minor bulk fleet handles smaller, more diverse cargoes such as steel products and grains. Genco charters its vessels primarily to trading houses, including commodities traders, as well as producers and government-owned entities. The company plays a critical role in global supply chains by moving essential raw materials across oceans.
Where is Genco Shipping & Trading Limited (GNK) listed and in which currency?
Genco Shipping & Trading Limited is listed on the New York Stock Exchange (NYSE) under the ticker symbol GNK. The company's shares are traded in US dollars (USD), reflecting its primary listing in the United States. As a US-based company with operations spanning global shipping routes, the use of USD aligns with the international nature of the shipping industry, where many contracts and transactions are denominated in US dollars. Investors can buy and sell GNK shares through any brokerage that offers access to the NYSE, and the stock price is quoted in USD. The company's financial reports are also prepared in US dollars, providing consistency for shareholders and analysts.
What sector and industry does Genco Shipping & Trading Limited (GNK) operate in?
Genco Shipping & Trading Limited operates in the Industrials sector, specifically within the Marine Shipping industry. The Industrials sector encompasses companies that provide industrial goods and services, including transportation, infrastructure, and manufacturing. Within this sector, the Marine Shipping industry focuses on the transportation of goods via ocean vessels. Genco is a dry bulk shipping company, meaning it specializes in carrying unpackaged bulk cargo such as iron ore, coal, grains, and steel products. This distinguishes it from container shipping or tanker companies that transport liquids or packaged goods. The Marine Shipping industry is vital to global trade, and Genco's role involves moving raw materials and commodities across international waters, serving customers like trading houses, producers, and government entities.
Where is Genco Shipping & Trading Limited (GNK) headquartered and what markets does it serve?
Genco Shipping & Trading Limited is headquartered in New York, New York, in the United States. The company was incorporated in 2004 and has since established itself as a global player in the dry bulk shipping industry. While its corporate base is in the US, its operations are international, providing ocean transportation services worldwide. Genco serves a diverse range of customers including trading houses, commodities traders, producers, and government-owned entities across various regions. The company's vessels transport drybulk cargoes such as iron ore, grains, coal, and steel products between ports globally, facilitating trade between continents. Its global reach means it is not limited to any single market but rather serves the needs of the international commodities market, with a focus on routes that connect major exporting and importing regions.
How does Genco Shipping & Trading Limited (GNK) generate revenue?
Genco Shipping & Trading Limited generates revenue primarily by chartering its dry bulk vessels to customers for the transportation of cargo. The company owns and operates a fleet of vessels that it leases out under time charters or voyage charters. In a time charter, customers pay a fixed daily rate for the use of a vessel over a specified period, covering operating costs like crew and insurance, while the customer pays for fuel and port expenses. In a voyage charter, Genco is paid a lump sum to transport a specific cargo from one port to another, with the company covering all voyage costs. The company's customers include trading houses, commodities traders, producers, and government-owned entities. Revenue is influenced by global demand for drybulk shipping, which depends on factors like commodity prices, trade flows, and economic growth. Genco's fleet composition, with vessels suited for both major bulk (e.g., iron ore, coal) and minor bulk (e.g., steel products, grains) cargoes, allows it to serve a broad customer base and adapt to market conditions.