Genco Shipping & Trading Limited reported strong financial results for Q4 2024, with net income of $12.7 million and an average daily fleet-wide TCE of $18,007, driven by a robust drybulk market and effective commercial operations. The company also declared a $0.30 per share dividend, marking its 22nd consecutive quarterly dividend.
Declared a $0.30 per share dividend for Q4 2024, representing the 22nd consecutive quarterly dividend.
Acquired the Genco Intrepid, a high-specification 2016-built 180,000 dwt Capesize vessel, in October 2024.
Achieved net income of $12.7 million for Q4 2024, with basic and diluted earnings per share of $0.29.
Reported an average daily fleet-wide TCE of $18,007 for Q4 2024, demonstrating strong operational performance.
Genco anticipates continued strong performance in Q1 2025, with an estimated fleet-wide TCE of $12,366 for 75% of owned fleet available days, despite expected seasonal downward volatility in freight rates. The company plans to maintain its dividend policy and continue debt reduction while pursuing accretive growth opportunities.
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