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Stock impact report

Genco Shipping & Trading Looks Attractive At 5.5x Forward Earnings [Seeking Alpha]

Genco Shipping & Trading Ltd (GNK)  More Company Research Source: Seeking Alpha
Last genco shipping & trading ltd earnings: 8/7 04:42 pm Check Earnings Report
US:NYSE Investor Relations: gencoshipping.com
PDF Summary Genco Shipping & Trading (NYSE: GNK ) is a dry bulk shipping company. Dry bulk shipping has gone through a monster bear market. This makes it an interesting place to look for value. A number of investment firms own large blocks of shares of Genco: Apollo Global Management (15.7%), Centerbridge Partners L.P. (30.4%) and Strategic Value Partners LLC (29.4%). The company issued a set of shares earlier this year at a higher price and expanded its fleet. Management also expressed the desire to sell ships. This seems contradictory, but shipping is an ongoing fight against time. The fleet has to be rejuvenated constantly. Executives manage that by buying and selling ships opportunistically. The CEO has investment banking experience, which is helpful if you are building a company. It does come with a price tag, as executive compensation seems high. It looks like the strategy is to scale up the business. If we are really coming out of the dry bulk bear market, that will work [Read more]
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