Genco Shipping & Trading

Genco Shipping’s shares rose to a new 52‑week high of 27.36 USD, delivering a total return of 70.7% over the past year and a 51.5% gain year‑to‑date. The company reported adjusted Q2 earnings of 0.65 USD per share on revenues of 92.3 million USD and an adjusted EBITDA that increased by about 300% year‑over‑year. Diana Shipping withdrew its takeover offer but remains the largest shareholder; the stock also offers a dividend yield of 12.27% and, according to the data, is still considered slightly undervalued. » More on de.investing.com

Genco rejects the withdrawn takeover offer from Diana Shipping and discloses the terms it requires for a transaction: 27.50 USD net asset value in cash plus three Diana shares per Genco share. The company accuses Diana of inflating the offer’s value to 36.91 USD per share and stresses that the proposed package, after accounting for the announced dividend of 0.80 USD per share, falls below the net asset value. Genco points to ongoing dividend forecasts of over 2.00 USD for H2 2026, based on concluded fixtures and forward curves, and names Jefferies and Morgan Stanley as advisors. » More on de.investing.com

Genco Shipping has taken delivery of the Capesize 'Genco Volunteer' (182,000 dwt), built in 2019 at Imabari and equipped with a scrubber, and plans to operate it on the spot market. The acquisition continues the fleet expansion; since Q4 2023 the company has invested over USD 400 million in seven modern Capesize and Newcastlemax vessels, achieving an internal rate of return of around 30%. Genco now operates 43 vessels with an average age of 12.8 years and a total capacity of about 4,935,000 dwt. » More on de.investing.com