Genco Shipping & Trading Limited announces delivery of first high specification Newcastlemax vessel
Published by Alfie Lloyd-Perks,
Assistant Editor
Dry Bulk,
Genco Shipping & Trading Limited announce that it has taken delivery of the Genco Stars and Stripes, one of two 2020-built 208 000 dwt scrubber-fitted Newcastlemax vessels that Genco agreed to acquire in November 2025.
John C. Wobensmith, Chairman and Chief Executive Officer, commented, “We are pleased to take delivery of the first of two high specification Newcastlemax vessels, with the second Newcastlemax expected to be delivered by the end of March. The Genco Stars and Stripes enters our fleet at a time of significant strength in dry bulk freight rates and will be immediately deployed in the current firm spot market earning a significant premium to benchmark indices given its high specifications and larger carrying capacity. The deliberate steps we have taken to further enhance our premium earning asset base put us in an ideal position to capitalise on a strengthening dry bulk market for the benefit of shareholders. Our spot focused commercial strategy and significant operating leverage provide a strong foundation for Genco to increase its earnings and dividend capacity in 2026 and beyond. Moving forward, we remain committed to executing our value strategy to further capitalise on attractive growth opportunities while continuing to focus on providing shareholders with sizeable dividends.”
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Read the article online at: https://www.drybulkmagazine.com/shipping/06032026/genco-shipping-trading-limited-announces-delivery-of-first-high-specification-newcastlemax-vessel/