Company Quick10K Filing
Genco Shipping & Trading
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 42 $342
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-09 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-03-05 Annual: 2018-12-31
10-Q 2018-11-07 Quarter: 2018-09-30
10-Q 2018-08-08 Quarter: 2018-06-30
10-Q 2018-05-09 Quarter: 2018-03-31
10-K 2018-02-28 Annual: 2017-12-31
10-Q 2017-11-07 Quarter: 2017-09-30
10-Q 2017-08-10 Quarter: 2017-06-30
10-Q 2017-05-11 Quarter: 2017-03-31
10-K 2017-03-28 Annual: 2016-12-31
10-Q 2016-11-04 Quarter: 2016-09-30
10-Q 2016-08-09 Quarter: 2016-06-30
10-Q 2016-05-10 Quarter: 2016-03-31
10-K 2016-03-15 Annual: 2015-12-31
10-Q 2015-11-13 Quarter: 2015-09-30
10-Q 2015-08-10 Quarter: 2015-06-30
10-Q 2015-05-08 Quarter: 2015-03-31
10-K 2015-03-02 Annual: 2014-12-31
10-Q 2014-11-17 Quarter: 2014-09-30
10-Q 2014-08-15 Quarter: 2014-06-30
10-Q 2014-05-19 Quarter: 2014-03-31
10-K 2014-04-07 Annual: 2013-12-31
10-Q 2013-11-08 Quarter: 2013-09-30
10-Q 2013-08-09 Quarter: 2013-06-30
10-Q 2013-05-10 Quarter: 2013-03-31
10-K 2013-03-01 Annual: 2012-12-31
10-Q 2012-11-09 Quarter: 2012-09-30
10-Q 2012-08-09 Quarter: 2012-06-30
10-Q 2012-05-10 Quarter: 2012-03-31
10-Q 2011-11-09 Quarter: 2011-09-30
10-Q 2011-07-26 Quarter: 2011-06-30
10-Q 2011-05-10 Quarter: 2011-03-31
10-K 2011-03-10 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-10 Quarter: 2010-03-31
10-K 2010-03-01 Annual: 2009-12-31
8-K 2020-01-29 Earnings, Exhibits
8-K 2019-11-06 Earnings, Regulation FD, Exhibits
8-K 2019-10-25 Earnings
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-05-15 Shareholder Vote
8-K 2019-05-08 Earnings, Exhibits
8-K 2019-03-05 Earnings, Exhibits
8-K 2018-12-18 Officers, Regulation FD
8-K 2018-12-18 Officers, Regulation FD
8-K 2018-11-07 Earnings, Exhibits
8-K 2018-10-10 Regulation FD
8-K 2018-08-14 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-07-18 Other Events
8-K 2018-06-15 Enter Agreement, Exhibits
8-K 2018-06-14 Other Events, Exhibits
8-K 2018-05-31 Enter Agreement, Off-BS Arrangement, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-05-15 Shareholder Vote
8-K 2018-05-08 Earnings, Exhibits
8-K 2018-04-05 Officers
8-K 2018-03-26 Officers
8-K 2018-02-27 Earnings, Exhibits

Genco Shipping & Trading Financials

GNK Metrics, Comps, Filings

Annual | Quarterly

Business

We are a New York City-based company incorporated in the Marshall Islands in 2004. We transport iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. Our fleet currently consists of 58 drybulk carriers, including 17 Capesize drybulk carriers, two Panamax drybulk carriers, six Ultramax drybulk carriers, 20 Supramax drybulk carriers, and 13 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 5,075,000 deadweight tons (“dwt”). The average age of our current fleet is approximately 9.0 years. All of the vessels in our fleet were built in shipyards with reputations for constructing high-quality vessels. Of the vessels in our fleet, 30 are currently on spot market voyage charters, two are currently on spot market-related time charters, and 26 are on fixed-rate time charter contracts and we are currently time chartering-in six third party vessels.

In 2017, we began implementing initiatives to expand our commercial platform and more actively manage the employment of our vessels. We hired commercial directors for our major bulk and minor bulk fleets and have begun employment of our vessels directly with cargo owners under cargo contracts. To better capitalize on opportunities to employ our vessels, we expanded our global commercial presence with the establishment of new offices in Singapore and Copenhagen. Additionally, we have withdrawn our vessels from pools and have reallocated our freight exposure to the Atlantic basin to seek to capture the earnings premium historically offered. Overall, our fleet deployment strategy remains weighted towards short-term fixtures, which provide optionality in a potentially rising freight rate environment. In addition to both short and long-term time charters, we fix our vessels on spot market voyage charters as well as spot market-related time charters depending on market conditions and management’s outlook.

In 2017, we began a fleet renewal program to modernize its fleet by replacing older vessels with newer vessels having greater fuel efficiency and other improved specifications. Please see below under “Vessel Sales” and “Vessel Acquisitions for further details.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Navigator Holdings (NVGS) 513 0% 1,833 878 0 0 0 0 1,117
International Seaways (INSW) 506 0% 7.3 1% 1,865 870 373 0 12 159 1,150
Costamare (CMRE) 505 0% 3,051 1,694 0 0 0 0 1,655
Teekay Offshore Partners (TOO) 505 0% 5,312 3,853 0 0 0 0 3,413
Doriang (LPG) 478 0% 27.2 -1% 1,619 700 192 0 -24 41 1,115
Scorpio Bulkers (SALT) 399 0% -3.4 -19% 1,704 843 100 0 -324 -324 1,098
MCBC Holdings (MCFT) 382 24% 10.9 9% 249 176 466 113 21 45 490
Genco Shipping & Trading (GNK) 342 0% 7.9 -1% 1,564 552 381 0 -18 87 691
Teekay (TK) 337 0% 8,392 5,525 0 0 0 0 3,195
SEACOR Marine Holdings (SMHI) 335 32% 42.9 -7% 1,077 565 262 83 -77 17 708
Diana Shipping (DSX) 330 0% 1,188 560 0 0 0 0 713
Eagle Bulk Shipping (EGLE) 327 0% 8.9 0% 864 388 303 0 3 68 602
Nordic American Tankers (NAT) 288 0% 1,071 469 0 0 0 0 675
Teekay Tankers (TNK) 252 0% 2,161 1,214 0 0 0 0 934
Tsakos Energy Navigation (TNP) 230 0% 3,205 1,710 0 0 0 0 1,617
Safe Bulkers (SB) 181 0% 1,076 593 0 0 0 0 698
Ardmore Shipping (ASC) 161 0% 845 498 0 0 0 0 336
Overseas Shipholding Group (OSG) 158 0% 6.4 1% 1,057 724 346 0 8 68 437
Pangaea Logistics Solutions (PANL) 154 0% 5.0 4% 459 290 258 0 19 46 230
Danaos (DAC) 149 0% 2,680 1,989 0 0 0 0 1,694

Balance Sheet ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash2712287312383121133205203
Accounts Receivable91412141511101322
Inventory101111101030
PP&E265911112
Assets3,1833,1192,8432,9571,7531,7241,5691,5211,627
Accounts Payable4610871015
Long-Term Debt280396524519551
Liabilities1,8351,7581,5821,648460618539546574
Stockholders' Equity1,1331,1521,0669671,0221,1061,053
Income Statement ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue133332210368
Cost of Revenue
Gross Profit
R&D
SG&A452223
Tax21112100
Net Income14725-158-157-254-218-59-33
Cash Flow ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating263158-19-3-56-502766
Cash Investing-870-133-4-147-57715-195
Cash Financing690-68-13320015155-6127