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Second Newcastlemax Vessel Expected to Deliver at the End of March Premium Earning Assets Further Enhance Earnings Power and Dividend Capacity New York - March 5, 2026 Genco Shipping & Trading Limited (NYSE:GNK) ("Genco" or the "Company"), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced that it has taken delivery of the Genco Stars and Stripes, one of two 2020-built 208,000 dwt scrubber-fitted Newcastlemax vessels that Genco agreed to acquire in November 2025. John C. Wobensmith, Chairman and Chief Executive Officer, commented, "We are pleased to take delivery of the first of two high specification Newcastlemax vessels, with the second Newcastlemax expected to be delivered by the end of March. The Genco Stars and Stripes enters our fleet at a time of significant strength in drybulk freight rates and will be immediately deployed in the current firm spot market earning a significant premium to benchmark indices given its high specifications and larger carrying capacity. The deliberate steps we have taken to further enhance our premium earning asset base put us in an ideal position to capitalize on a strengthening drybulk market for the benefit of shareholders. Our spot focused commercial strategy and significant operating leverage provide a strong foundation for Genco to increase its earnings and dividend capacity in 2026 and beyond. Moving forward, we remain committed to executing our value strategy to further capitalize on attractive growth opportunities while continuing to focus on providing shareholders with sizeable dividends." About Genco Shipping & Trading Limited Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We transport key cargoes such as iron ore, coal, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Newcastlemax and Capesize vessels (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk), enabling us to carry a wide range of cargoes. Following the expected delivery of one Newcastlemax vessel that we have agreed to acquire, Genco's fleet will consist of 45 vessels with an average age of 12.8 years and an aggregate capacity of approximately 5,044,000 dwt. Genco Shipping & Trading Limited press release 
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