Fearnley Securities thinks Genco Shipping & Trading’s forward bookings are strong enough to generate what it called a “decent” dividend for the fourth quarter, despite chronically weak freight markets.
The New York-listed bulker owner on Friday reported it has cover for 95% of its operating days during the final quarter of the year at $18,300 per day on average across its fleet of capesizes, panamaxes and supramaxes.
