Genco Shipping & Trading is trying to do something no dry bulk owner has managed: adopt a low-debt, high-dividend payout model that affords an enduring premium to its net asset value (NAV).
New York-listed Genco announced a strategic overhaul in policy on 19 April that created a stir in the Big Apple's finance circles — drawing out fans and sceptics — even if it is a bit soon to have any impact on the share price.
