Genco takes two capes and two ultramaxes in $141m en bloc deal

Genco takes two capes and two ultramaxes in $141m en bloc deal

New York-based dry bulk shipowner Genco Shipping & Trading has revealed the en bloc acquisition of four bulkers, two capesizes and two ultramaxes, for a total of $141m.

Genco is financing the deal via a public offering and cash on hand.

The two capesizes being acquired were built at Chinese yards in 2015, while one of the ultramaxes was built in Japan in 2016 and the other in China in 2014. Genco says all four were built with a fuel-saving “eco” engine, although it did not reveal the seller.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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