Genco Shipping & Trading Limited reported a net income of $90.9 million for Q4 2021, with earnings per share of $2.16 and declared a dividend of $0.67 per share. The company's voyage revenues reached $183.3 million, and the average daily TCE was $35,200, marking the highest quarterly TCE since 2008. Genco also focused on deleveraging and fleet growth through strategic acquisitions.
Declared a dividend of $0.67 per share for Q4 2021, representing a significant increase from the previous quarter.
Recorded net income of $90.9 million, or $2.16 earnings per share.
Voyage revenues totaled $183.3 million, with net revenue at $132.7 million.
Average daily TCE for Q4 2021 was $35,200, marking the highest quarterly TCE since 2008.
Despite a near-term seasonal decline in freight rates in early 2022, Genco has a positive outlook on the drybulk market due to the favorable supply and demand balance underpinned by the historically low newbuilding orderbook.
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