Genco disposes of Jinhui shares

Genco disposes of Jinhui shares

Dry bulk shipping company Genco has sold its 8,345,641 shares in fellow dry bulk carrier Jinhui Shipping and Transportation.

The shares represented around 11% equity interest in Jinhui. After the disposal, Genco hold no interest in Jinhui.

This week, Genco closed a new $400m credit facility and made amendments to some existing facilities. Proceeds from the new credit facility will be used to refinance all of the company’s existing credit facilities into one facility.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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