Genco Shipping estimates Q4 2023 TCE rate of ~$17,200/day; expects $3M charge from vessel sale

GENCO SHIPPING & TRADING LTD

Estimated Q4 2023 TCE rate of approx. $17,200/day for ~95% of owned available days.
Total owned fleet available days for Q4 estimated at 4,075 days.
Freight rates increased meaningfully since mid-November, benefiting spot market exposure.
Expects non-cash charge of ~$3M in Q4 from sale of Genco Commodus.

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