New York-listed Genco Shipping & Trading is considering selling the three smallest capesize units in its fleet, and this time it was the accountants who let it leak rather than chatty shipbrokers.
The Manhattan-based company said in its earnings statement this week that it was forced to take a non-cash impairment charge of $28.1m as estimated future discounted cash flows on the three bulkers did not exceed their net book values.
