Genco expects its refinancing to further enhance its capital structure and support the continued execution of its value strategy and its ability to take advantage of favorable long-term industry fundamentals. The company is seeing a significant uplift in drybulk freight rates, led by firm iron ore, coal and bauxite shipments, which is reflected in its solid Q4 TCE to date. Moving forward, while they expect volatility to persist, they view commodity demand growth from China and developing Asia, coupled with capacity constraints that have resulted in a historically low orderbook, to be supportive for the drybulk market.