Genco Shipping & Trading's plans to sell three 53,000-dwt supramaxes were prompted by an upturn in asset prices, and it will look to sell more and maybe buy new tonnage, according to its president.
The New York-listed bulker owner has agreed to sell three Chinese-built bulkers: the 53,596-dwt Genco Normandy (built 2007) and the 53,430-dwt Genco Loire and 53,351-dwt Baltic Panther (both built 2009).
