Genco Shipping & Trading Limited (NYSE: GNK) today announced that it has reached an agreement to sell the Genco Trader, a 1990-built Panamax vessel, to SW Shipping Co., Ltd. for $44 million less a 2% brokerage commission payable to a third party. The Company expects to realize a net gain of approximately $26 million from the sale of the vessel in the first quarter of 2008. The delivery of the Genco Trader is expected to take place upon the expiration of the vessel’s current time charter between January 1, 2008 and March 20, 2008.
Green Marine
about 19 years ago
Genco Shipping & Trading Limited Announces Sale of Panamax Vessel
Genco Shipping & Trading Limited (NYSE: GNK) today announced that it has reached an agreement to sell the Genco Trader, a 1990-built Panamax vessel, to SW Shipping Co., Ltd. for $44 million less a 2% brokerage commission payable to a third party. The Company expects to realize a net gain of approxim
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