Highest-materiality recent filing
Genco Shipping amends shareholder rights plan, eliminates 'Acting in Concert' definition
On June 2, 2026, Genco entered a Third Amendment to its Shareholder Rights Agreement (poison pill) removing the 'Acting in Concert' definition.
Genco Q1 net income $9.3M; dividend $0.35/share, up 133% YoY; Q2 dividend projected $0.70/share
Q1 net income $9.3M ($0.21 EPS); adjusted net income $11.3M ($0.26 adj. EPS).
Genco Shipping amends poison pill, raising ownership trigger to 15% for all shareholders
Second Amendment to Shareholder Rights Agreement dated May 1, 2026 rescinds the earlier First Amendment.
Genco Shipping files Employee Retention Plan with severance upon change in control
Plan covers Tier 1, 2, 3 employees; severance triggered by qualifying termination after a Change in Control.
Genco Shipping upsizes credit facility by $80M to $680M to fund vessel acquisitions
Revolving credit facility increased from $600M to $680M via sixth amendment effective Feb 27, 2026.
Genco declares $0.50/share Q4 dividend; Q4 adj. EBITDA $42M, highest since 2022
Declared $0.50/share dividend for Q4 2025, highest since Q4 2022; payable March 18, 2026, record March 11, 2026.
Genco Shipping adopts Employee Retention Plan with double-trigger severance for key executives
Plan approved Feb 13, 2026 by Board on Compensation Committee recommendation.
Genco Shipping estimates Q4 2025 TCE at approx $20,000/day for 95% of available days
Estimated TCE ~$20,000/day for ~95% of owned available days in Q4 2025.
Genco Shipping amends poison pill to 10% trigger; grandfathers Diana Shipping
Acquiring Person threshold reduced to 10% (15% for 13G filers).
Genco posts Q3 net loss $1.1M, declares $0.15/share dividend; Q4 TCE estimate >$20k
Net loss $1.1M ($0.02/sh) vs net income $21.5M ($0.50/sh) in Q3 2024; adjusted net loss $0.4M.
Genco Shipping adopts one-year shareholder rights plan expiring Sep 30, 2026
Rights plan triggers at 15% beneficial ownership; exercise price $107 per right.
Chairman Dolphin resigns; CEO Wobensmith appointed Chairman, new Lead Independent Director named
James G. Dolphin resigned as Chairman and Board member on Aug 26, 2025; no disagreement over strategy/operations.
Genco Q2 net loss $6.8M; declares $0.15 dividend; acquires Capesize for $63.6M
Q2 net loss of $6.8M ($0.16/sh) vs net income of $23.5M ($0.54/sh) year ago; revenue down 24% to $80.9M.
Genco Shipping upsizes credit facility to $600M, extends maturity to July 2030
Revolver increased to $600M from $400M (50% raise); total facility moves from $500M to $600M.
Genco Shipping estimates Q2 2025 TCE rate of ~$13,800/day for 95% of fleet available days
Estimated Q2 2025 TCE rate of ~$13,800/day, inclusive of scrubber premium, covering ~95% of owned available days.
Genco Shipping shareholders elect directors, approve say-on-pay, ratify auditor
All seven director nominees elected; votes for ranged from 15.7M to 22.3M.
Genco Shipping Q1 net loss $11.9M; launches $50M buyback program
Q1 net loss of $11.9M ($0.28 per share) vs net income of $18.8M ($0.44) a year ago.
Genco Shipping estimates Q1 2025 TCE at ~$11,700/day on 95% of owned days
Estimated TCE rate for Q1 2025: ~$11,700 per day for ~95% of owned available days (~3,450 total days).
Q4 net income $12.7M ($0.29 EPS) vs $4.9M in Q4 2023; adjusted net income $12.8M.
Genco Shipping estimates Q4 2024 TCE rate of ~$18,300/day for ~95% of owned available days
Fleet-wide estimated TCE rate of approximately $18,300/day for Q4 2024.
Genco posts Q3 net income $21.5M, declares $0.40 dividend; TCE up 59% YoY
Net income $21.5M ($0.50 basic EPS) vs net loss $32.0M ($0.75 loss) in Q3 2023.
Genco Shipping Q2 net income $23.5M ($0.54 EPS); declares $0.34 dividend
Net income $23.5M, up from $11.6M YoY; adjusted net income $19.9M ($0.46 adjusted EPS).
Genco Shipping amends 8-K to disclose board committee assignments effective July 1, 2024
Audit Committee: Kathleen C. Haines (Chair), James G. Dolphin, Arthur L. Regan.
Genco updates vessel sale gain of ~$13M and provides Q2 fleet TCE estimate of $19k/day
Received $3.7M in deposits from prior vessel buyers; expects ~$13M gain on sale of Genco Claudius and Genco Maximus in Q2 2024.
Genco Shipping shareholders elect all seven directors, approve say-on-pay, ratify auditor
All seven director nominees elected; vote totals from 22.99M to 23.48M for, broker non-votes ~75.8K.
Genco Q1 net income $18.8M, TCE $19,219/day, declares $0.42 dividend, reduces debt by $85M YTD
Net income $18.8M ($0.44 basic EPS); adjusted net income $21.4M ($0.50 adjusted EPS).
Genco Shipping guides Q1 TCE ~$18,900/day, sells two vessels for $47M
Estimated Q1 2024 fleet-wide TCE rate of ~$18,900/day for 92% of owned available days.
Genco Shipping appoints Paramita Das to Board of Directors
Paramita Das appointed to the Board, effective March 4, 2024; term expires at the 2024 Annual Meeting.
On March 4, 2024, the Board of Directors (the “Board”) of Genco Shipping & Trading Limited (the “Company”) Board appointed Paramita Das as a director of the Company.
Max materiality 0.85 · Median 0.55 · Most common event other_material