Genco Shipping & Trading is looking to take advantage of a period of flat asset values to purchase second-hand capesize and ultramax tonnage.
New York-listed Genco is armed with fresh firepower after striking a $460m refinancing this week and expects to bank further cash from the sale of 15 older vessels.
John Wobensmith, chief executive of Genco, says asset prices in the dry cargo market are still at historically low levels.
