Forecasters who track the US bulker owner’s bonds and New York-listed stock tell TradeWinds they would like to learn more about the incident but dismissed the development as a “relatively minor hurdle” when compared to the other challenges it will face in the coming weeks.
Others, like an investor with exposure to Genco and other US-quoted bulker stocks, say they were rattled when they first heard about the arrest even though it’s not uncommon for claimants to target tonnage when a dispute arises with a cash-strapped owner on the brink of bankruptcy.
Genco
