New York-listed Genco Shipping & Trading had some less-than-encouraging news to report as US investors headed off for the long holiday weekend on Friday, and it caused one equity analyst to take down his estimates for the bulker owner.
The Manhattan-headquarter outfit revealed after the close of trading Friday evening that its time charter equivalent (TCE) rate for the second quarter would be $15,000 per day, which is a step down from the previous guidance.
