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.