Genco Shipping to Acquire Nine Capesize Vessels

Thursday, July 19, 2007
Genco Shipping & Trading Limited today announced that it has agreed to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group for an aggregate purchase price of approximately $1.1 billion. The acquisition is subject to the completion of customary additional documentation and closing conditions. Two of the nine Capesize vessels were built in the first quarter of 2007 and are expected to be delivered to Genco during the third quarter of 2007. The remaining seven Capesize vessels are expected to be built, and subsequently delivered to Genco, between the fourth quarter of 2007 and the third quarter of 2009. Upon completion of the acquisition, Genco's fleet will consist of nine Capesize, seven Panamax, seven Handymax, and five Handysize drybulk carriers, with a total carrying capacity of approximately 2,559,000 dwt and an average age of 8 years.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

USNS Ship Rescues Nine in Gulf of Oman

'USNS Richard E. Byrd' (T-AKE 4), a Lewis and Clark-class dry cargo ship, rescued 9 crew members from a Yemeni-flagged cargo vessel 'Asaed' that had lost power,

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1172 sec (9 req/sec)