Genco Shipping & Trading Ltd. filings document formal disclosures for a Marshall Islands drybulk shipowner whose common stock trades on the NYSE under GNK. Recent Form 8-K reports cover financial results, time charter equivalent rate updates, material definitive agreements, credit agreement amendments, and exhibits tied to operating and financing announcements.
The filing record also includes governance and capital-structure disclosures, including amendments to a shareholder rights agreement, preferred stock purchase rights, employee retention and severance arrangements with change-in-control provisions, and annual-meeting and proxy-related matters.
Genco Shipping & Trading Limited (GNK) reported third-quarter 2026 revenue of $151.9 million, compared with $79.9 million a year earlier, and net income attributable to Genco of $38.0 million, versus a $1.1 million loss. Adjusted EBITDA was $68.1 million, compared with $21.7 million; fleet average TCE was $27,539 per day, versus $15,959.
For the nine months ended September 30, 2026, Genco reported net income attributable to it of $64.0 million, compared with a $19.8 million loss, and operating cash flow of $115.4 million, versus $16.0 million. The board declared a Q3 cash dividend of $1.05 per share, payable on or about November 23, 2026, to shareholders of record as of November 16, 2026. The company said it represented a 600% year-over-year increase. Management projected a Q4 dividend of over $1 per share, based on fixtures to date, the current FFA curve and estimated expenses and utilization; the FFA curve is subject to change. The Q3 dividend calculation included a $19.5 million voluntary reserve, and the Q4 reserve is targeted at $19.5 million, within the board's discretion.
Genco Shipping & Trading Limited (GNK) reported third-quarter 2026 revenue of $151.855 million, compared with $79.921 million a year earlier, and net income attributable to Genco of $38.003 million, versus a $1.053 million loss. Fleet-average Time Charter Equivalent earnings were $27,539 per day, compared with $15,959.
For the nine months ended September 30, 2026, revenue was $402.698 million and net income attributable to Genco was $63.961 million, versus $232.130 million and a $19.777 million loss in 2025. Operating cash flow was $115.436 million. At September 30, cash was $94.611 million, undrawn revolver availability was $300.0 million, and principal debt outstanding was $380.0 million.
Genco took delivery of the 2019-built, 182,000-dwt Capesize vessel Genco Volunteer on August 12, 2026; its $65.000 million purchase price was reduced by $1.080 million after a delivery delay. On November 4, 2026, Genco declared a $1.05-per-share quarterly dividend, expected to total approximately $46.8 million, payable on or about November 23 to holders of record November 16.
Genco Shipping & Trading Limited (GNK) amended its shareholder rights agreement, extending the Final Expiration Date to September 30, 2027. The amendment shortens the period used to measure the minimum price for a Qualifying Offer from 24 months to 12 months before the offer begins, and clarifies that this price criterion no longer applies after the offer is made. It changes both the Board’s consideration period and the period for calling a special meeting from 90 Business Days to 90 calendar days. An offeror may withdraw an offer if a Material Adverse Effect has occurred and is continuing. The other provisions remain unchanged, and the company says the agreement does not prevent the Board from considering any proposal or fair offers that are otherwise in shareholders’ best interests.
GENCO SHIPPING & TRADING LTD (GNK) is the subject of an amended Schedule 13D in which Diana Shipping Inc. reports its ownership has fallen below 5% of Genco’s common stock, triggering a final, “exit” amendment.
As of September 15, 2026, Diana Shipping Inc. beneficially owned 2,178,585 Genco shares, representing 4.9% of the outstanding common stock, based on 43,586,605 shares outstanding as reported on August 5, 2026. Diana reports sole voting and sole dispositive power over all of these shares. Recent activity includes open market sales of 75,000 shares at an average price of $26.94 on September 14, 2026 and 130,000 shares at an average price of $27.93 on September 15, 2026. Diana states that, as of September 15, 2026, it ceased to be a beneficial owner of more than 5% of Genco’s common stock and this amendment constitutes its exit filing.
GENCO SHIPPING & TRADING LTD (GNK) has an updated ownership report from Diana Shipping Inc., which now may be deemed to beneficially own 2,383,585 common shares, representing approximately 5.47% of Genco’s outstanding common stock. Diana Shipping has sole voting and sole dispositive power over all of these shares.
The ownership percentage is calculated using 43,586,605 Genco common shares outstanding as of August 5, 2026. Recent activity includes multiple open‑market sales and a block sale of 1,522,000 shares at $26.75 on September 8, 2026, which reduced Diana Shipping’s position to its current level.
GENCO SHIPPING & TRADING LTD (GNK) reported that DIANA SHIPPING INC., previously a 10% beneficial owner, sold a total of 275,000 common shares in open-market transactions on September 1–2, 2026, at reported average prices of $26.02, $26.64, and $26.73. Each sale consisted of multiple trades within disclosed intraday price ranges, and no Rule 10b5-1 trading plan is reported. The reporting person states that, following these sales, it is no longer a 10% beneficial owner, and this Form 4 serves as an exit filing.
GENCO SHIPPING & TRADING LTD (GNK) reported that major shareholder Diana Shipping Inc., a ten percent owner, sold a total of 10,707 common shares in late August 2026. The holder sold 2,280 shares on August 28, 2026 at $26.00 per share and 8,427 shares on August 27, 2026 in open-market transactions at a weighted-average price of $26.13 per share, with individual trade prices ranging from $26.00 to $26.39.
GENCO SHIPPING & TRADING LTD (GNK) has an updated Schedule 13D/A reflecting the position of Diana Shipping Inc. in its common stock. As of August 25, 2026, Diana Shipping Inc. reports beneficial ownership of 4,416,292 shares of GNK common stock, representing 10.13% of the outstanding shares, based on 43,586,605 shares outstanding as of August 5, 2026.
Diana Shipping Inc. has sole voting and sole dispositive power over all 4,416,292 shares. On August 25, 2026, Diana Shipping Inc. executed several open market sales in multiple tranches, each reported with average sale prices between $26.50 and $26.62 per share, with each tranche separately itemized in the filing.
GENCO SHIPPING & TRADING LTD (GNK) had a significant shareholder, DIANA SHIPPING INC., report open-market sales of its common shares. On 2026-08-25, the reporting holder sold a total of 648,256 common shares of GNK in a series of transactions.
The sales were executed at weighted-average prices per block of shares, with reported averages between $26.50 and $26.62 per share. Footnotes state that each block was sold through multiple trades in ranges spanning from $26.48 to $26.94 per share, and that detailed trade breakdowns are available upon request.
GENCO SHIPPING & TRADING LTD (symbol: GNK) is the issuer of record for a Form 4 filing submitted to the SEC.