Genco Shipping & Trading capped off a busy quarter with modest profits.
The New York-listed shipowner posted $5.7m in net income for the three months ending 30 September along with $92.3m in revenue, 80% higher than the same period last year, on the back of improved charter rates.
"During the third quarter, we continued to generate profitable results, as we drew upon our sizeable and leading platform to take advantage of the developing recovery in the drybulk market," chief executive John Wobensmith said.
