Genco Shipping & Trading has hit a milestone in its fleet renewal with the sale of its last “smaller” capesize.
The New York-listed company said in announcing in-line earnings for the second quarter that it had disposed of the 169,000-dwt Genco Hadrian (built 2008) to unknown buyers for $25m, completing a strategic exit from that vessel type.
It also confirmed a sale previously reported by brokers of the 55,400-dwt Genco Warrior (built 2005) for $11.95m.
