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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 LTD (GNK) reported that director Kathleen C. Haines acquired multiple awards of restricted stock units (RSUs) on August 24, 2026. Each RSU represents one share of common stock or its cash value on vesting. Several RSU tranches had already vested between May 2018 and June 18, 2026, while additional RSUs relate to annual director and Lead Independent Director grants that generally vest on the earlier of the next annual shareholders meeting following the June 18, 2026 grant date or August 18, 2027. Further RSUs were granted in lieu of cash dividends, with the number of additional RSUs calculated using the 30‑trading‑day trailing volume‑weighted average price on each dividend payment date.
GENCO SHIPPING & TRADING LTD (GNK) is the subject of an amended Schedule 13D filed by Diana Shipping Inc. Diana reports that, as of August 24, 2026, it may be deemed to beneficially own 5,064,548 GNK common shares, representing 11.62% of the outstanding shares, with sole voting and sole dispositive power over this stake.
The ownership percentage is based on 43,586,605 GNK shares outstanding as reported in GNK’s Form 10-Q filed on August 5, 2026. Diana also discloses a series of recent open-market sales on August 21 and August 24, 2026, in trade blocks ranging from 75,000 to 375,000 shares at average prices between approximately $26.50 and $27.22 per share.
GENCO SHIPPING & TRADING LTD (GNK) reported that DIANA SHIPPING INC., a ten percent owner, sold GNK common shares in a series of open-market transactions. On August 21 and 24, 2026, DIANA SHIPPING INC. sold a total of 1,200,000 common shares at average prices within ranges from $26.29 to $27.50 per share, with each reported price representing an average for multiple trades.
Diana Shipping Inc., a Marshall Islands company, reports beneficial ownership of 6,264,548 shares of Genco Shipping & Trading Limited common stock, representing 14.4% of the class, with sole voting and dispositive power over all such shares. This percentage is calculated against 43,586,605 Genco shares outstanding as of August 5, 2026.
Diana states that on August 14, 2026 it issued a press release announcing it has withdrawn its earlier proposal to acquire all Genco shares it does not already own. That proposal contemplated $24.80 in cash per Genco share (adjusted for a recently declared $0.80 dividend) plus one Diana share valued at $2.54 based on Diana’s 30‑day volume‑weighted average price as of June 16, 2026. Despite withdrawing the proposal, Diana indicates it may from time to time buy more Genco shares, sell some or all of its holdings, or engage in hedging or similar transactions, depending on its ongoing evaluation of Genco and market conditions.
Diana Shipping Inc. reports its ownership position in Genco Shipping & Trading Limited, holding 6,264,548 shares of common stock with sole voting and dispositive power. This represents 14.4% of Genco’s common stock, based on 43,586,605 shares outstanding as of August 5, 2026.
The amendment also discloses that a previously announced definitive agreement for Star Bulk Carriers Corp. to acquire 16 vessels of Genco for $470.5 million in cash, which was contingent on Diana acquiring all remaining Genco shares, was terminated effective August 10, 2026 with no further commitments or obligations between Diana and Star Bulk.
Kibo Investments Pte. Ltd. filed an amended Schedule 13G/A reporting its beneficial ownership of common stock of Genco Shipping & Trading Ltd. Kibo holds 3,707,208 shares of common stock, representing 8.5% of the outstanding class, with sole voting and sole dispositive power over all of these shares.
The ownership percentage is calculated based on 43,586,605 shares of Genco common stock outstanding as of August 5, 2026, as reported in Genco’s Form 10-Q for the quarter ended June 30, 2026. The filing lists Genco’s principal executive offices in New York and Kibo’s principal business office in Singapore, and is signed by director Bernard Fung on August 8, 2026.
Genco Shipping & Trading Limited reported a strong turnaround for the quarter ended June 30, 2026. Voyage revenues rose to $136.4 million from $80.9 million a year earlier, lifting operating income to $21.8 million from a loss and net income to $16.7 million, or $0.38 basic EPS, versus a prior-year loss of $6.8 million. For the first half, voyage revenues were $250.8 million with net income of $26.3 million, compared with a loss in 2025.
Fleet performance improved, with fleet-average TCE rates up to $24,273 per day from $13,631, supported by stronger major and minor bulk markets. The company expanded its modern fleet by acquiring three large scrubber-fitted vessels and selling two older Supramax ships, ending the quarter with 43 vessels and expecting a 44th in August 2026. Cash from operations reached $48.9 million in the first half; cash stood at $73.6 million and undrawn availability under the $680 Million Revolver was $350.0 million, for total liquidity of $423.6 million. Debt principal increased to $330.0 million as the revolver was upsized. The board continued its dividend policy, declaring quarterly dividends including a subsequent $0.80 per share announcement after quarter-end, while also incurring $16.9 million of other operating expense tied to a non-routine 2026 annual meeting and proposals to purchase the company’s stock.
Genco Shipping & Trading Limited reported higher Q2 2026 results, with voyage revenues of $136.4 million and net income of $16.6 million, or $0.38 per basic share, compared with a net loss a year earlier. Adjusted EBITDA rose to $56.7 million as fleetwide TCE increased to $24,273 per day.
The company declared a record Value Strategy dividend of $0.80 per share for Q2 2026, a 433% year-over-year increase, based on its policy of distributing 100% of quarterly operating cash flow less a $19.5 million voluntary reserve. This produced $35 million of cash flow distributable as dividends. Management projects, based on fixtures to date, the current FFA curve and estimated expenses, a record Q3 2026 dividend of over $1.00 per share and Q3 TCE to date 18% above Q2 levels, with an estimated fleetwide TCE of $28,587 per day.
Genco continued its fleet renewal, expanding to 43 vessels totaling approximately 4,935,000 dwt and committing to acquire the scrubber‑fitted Capesize Genco Volunteer. Pro forma for this purchase, debt is expected to be $380 million with $300 million of undrawn revolver capacity; cash at June 30, 2026 was $73.6 million.
Diana Shipping Inc., the largest shareholder of Genco Shipping & Trading Limited, reiterates its unsolicited proposal to acquire Genco at $27.34 per share and challenges Genco’s recent vessel valuation disclosures. Diana cites data from VesselsValue, previously used by Genco for more than five years, indicating that Genco’s fleet value has declined by $50 million, or 3.4%, from $1,483 million in early June 2026 to $1,433 million as of July 28, 2026.
Diana states that Genco shifted from VesselsValue to unnamed “independent third-party brokers” after Diana’s initial proposal, and argues this change produces higher net asset value estimates that make its offer appear inadequate. Diana urges Genco’s board to engage directly and in good faith, warning that a softening dry bulk market may further erode value and that material further erosion could prompt reassessment of its offer.