Genco Shipping & Trading
Limited has taken delivery of the Genco
Tiberius, a January 2007-built 175,000 dwt Capesize vessel. The Genco
Tiberius is the second vessel to be delivered to the Company under Genco's
previously announced agreement on July 18, 2007 to acquire nine Capesize
vessels from companies within the Metrostar Management Corporation group.
The Genco Tiberius is currently on charter with Cargill International
S.A. at a rate of $45,263 per day, less a 5% third party brokerage
commission. The charter is due to expire between January 2010 and May 2010.