Genco to Sell Handymax Vessel

Tuesday, September 11, 2007
Genco Shipping & Trading Limited announced that it has reached an agreement to sell the Genco Commander, a 1994-built Handymax vessel to Dan Sung Shipping Co. Ltd. for $44.45m less a 2% brokerage commission payable to a third party. The Company expects to realize a net gain of approximately $24m from the sale of the vessel in the fourth quarter of 2007. The company plans to use the proceeds from this sale to pay down debt following its recent agreements to acquire a total of 15 drybulk vessels. The delivery of the Genco Commander is expected to take place upon the expiration of the vessel's current time charter between October 1, 2007 and December 31, 2007.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Education/Training

USCG to Assist Jamaica with MRO

Jamaica’s readiness for Mass Rescue Operations (MRO) in its maritime space will be boosted July 22-24, 2014 with the assistance of a subject matter expert from the U.

BHP Billiton Pledges A$6 mi to Bush Blitz II Project

Alongside partners the Australian Government and Earthwatch, BHP Billiton Sustainable Communities today announced a A$6 million contribution to the second stage

Training Builds Support for Sennebogen Customers

When Sennebogen LLC opened its new headquarters in Stanley, N.C., in 2009, the facility was equipped with one of America’s premier OEM Training Centers for heavy equipment.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Ship Repair 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: 0.0826 sec (12 req/sec)