Genco Shipping & Trading Limited Completes Common Stock Offering

New York - Jun 19, 2018

Genco Shipping & Trading Limited (NYSE:GNK) (“Genco”) today announced that it has successfully completed its previously announced public offering, issuing 7,015,000 new shares of common stock, which included the exercise in full of the underwriters’ option to purchase up to 915,000 shares of common stock. As a result, 41,547,004 shares of common stock were outstanding following completion of the offering. Gross proceeds of the offering were approximately $115.7 million. Genco intends to use the net proceeds from the offering for future vessel acquisitions.

Jefferies LLC, Fearnley Securities AS and Fearnley Securities, Inc. acted as joint book-running managers for the offering, and ABN AMRO Securities (USA) LLC, Skandinaviska Enskilda Banken AB (publ), Credit Agricole Securities (USA) Inc., Seaport Global Securities LLC and Noble Capital Markets Inc. acted as co-managers for the offering.

The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and an accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus were filed with the SEC and are available on the SEC’s website, www.sec.gov. Alternatively, copies may be obtained from Jefferies LLC, Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 (or by email to Prospectus_Department@Jefferies.com) or Fearnley Securities, Inc., 880 3rd Ave, 16th Floor, New York, NY 10022, Attn: Prospectus Department (or by email: prospectus@fearnleys.com).

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. These securities will be offered only by means of a prospectus, including the prospectus supplement relating to the shares of common stock, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


Genco Shipping & Trading Limited Prices Common Stock Offering

New York - June 15, 2018

Genco Shipping & Trading Limited (NYSE:GNK) (“Genco”) today announced the pricing of its public offering of common stock. The offering was made pursuant to Genco’s registration statement (including a prospectus and related prospectus supplement for the offering). Genco agreed to sell 6,100,000 shares of common stock at a public offering price of $16.50 per share. Total gross proceeds from the offering will be approximately $100.7 million. The offering is expected to close on June 19, 2018, subject to the satisfaction of customary closing conditions. Genco intends to use the net proceeds from the offering for future vessel acquisitions.

In connection with the offering, Genco granted the underwriters a 30-day option to purchase up to an additional 915,000 shares of common stock.

Jefferies LLC, Fearnley Securities AS and Fearnley Securities, Inc. are acting as joint book-running managers for the offering, and ABN AMRO Securities (USA) LLC, Skandinaviska Enskilda Banken AB (publ), Credit Agricole Securities (USA) Inc., Seaport Global Securities LLC and Noble Capital Markets Inc. are acting as co-managers for the offering.

The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and an accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus were filed with the SEC and are available on the SEC’s website, www.sec.gov. Alternatively, copies may be obtained from Jefferies LLC, Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 (or by email to Prospectus_Department@Jefferies.com) or Fearnley Securities, Inc., 880 3rd Ave, 16th Floor, New York, NY 10022, Attn: Prospectus Department (or by email:prospectus@fearnleys.com).

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. These securities will be offered only by means of a prospectus, including the prospectus supplement relating to the shares of common stock, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


Genco Shipping & Trading Limited Announces Common Stock Offering

New York - June 14, 2018

Genco Shipping & Trading Limited (NYSE:GNK) (“Genco”) today announced that it has commenced a public offering of common stock. Genco intends to use the net proceeds from the offering for future vessel acquisitions.

Jefferies LLC, Fearnley Securities AS and Fearnley Securities, Inc. are acting as joint book-running managers for the offering.

Genco has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering) with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus for more complete information about Genco and the offering. You may obtain copies of these documents for free on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained from Jefferies LLC, Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 (or by email to Prospectus_Department@Jefferies.com) or Fearnley Securities, Inc., 880 3rd Ave, 16th Floor, New York, NY 10022, Attn: Prospectus Department (or by email: prospectus@fearnleys.com).

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. These securities will be offered only by means of a prospectus, including the prospectus supplement relating to the shares of common stock, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Genco Shipping & Trading Limited Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. As of June 15, 2018, Genco Shipping & Trading Limited’s fleet consists of 13 Capesize, six Panamax, four Ultramax, 21 Supramax, one Handymax and 15 Handysize vessels with an aggregate capacity of approximately 4,688,000 dwt.

Genco Shipping & Trading Limited press release