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Genco Shipping & Trading Limited Announces Delivery of High Specification Capesize Vessel

1. Genco delivered Genco Courageous, a fuel-efficient Capesize vessel. 2. The company invested approximately $200 million in modern vessels since October 2023. 3. CEO highlights the expansion in a key sector amidst favorable industry fundamentals. 4. Genco aims to enhance earnings capacity through modernization and growth strategies. 5. The fleet includes 43 vessels, averaging 12.7 years in age.

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Why Bullish?

The delivery of a new vessel indicates strong investment in growth and efficiency, which could positively affect GNK's market perception, similar to past investments boosting stock performance in the shipping sector.

How important is it?

The announcement of a new vessel delivery affirms Genco's strategy in drybulk shipping and positions it well within an expanding sector, likely influencing investor confidence and stock performance.

Why Long Term?

The investment in fleet modernization and commitment to growth strategies suggests continued benefits over time, aligning with positive industry trends expected in shipping and commodity transport.

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CMRESALTDSXGOGL
October 16, 2025 06:55 ET  | Source: Genco Shipping & Trading Limited NEW YORK, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced that it has taken delivery of the Genco Courageous, a 2020-built 182,000 dwt scrubber-fitted Capesize vessel. John C. Wobensmith, Chief Executive Officer, commented, “We are pleased to take delivery of this high specification, fuel efficient Capesize vessel, which expands the Company’s presence in a key sector and marks approximately $200 million invested in modern Capesize vessels since October 2023. Importantly, we continue to take steps to modernize our asset base and improve our earnings capacity at a time of favorable long-term industry fundamentals. Moving forward, we remain committed to executing our value strategy to further capitalize on attractive growth opportunities while continuing to provide shareholders with sizable returns.” About Genco Shipping & Trading Limited Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We transport key cargoes such as iron ore, coal, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. Genco’s fleet consists of 43 vessels with an average age of 12.7 years and an aggregate capacity of approximately 4,628,000 dwt. CONTACT:Peter AllenChief Financial OfficerGenco Shipping & Trading Limited(646) 443-8550

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