Genco buys high-specification newcastlemax pair for $145.5m

U.S. headquartered drybulk shipowner Genco Shipping & Trading has agreed to buy a pair of 208,000-dwt scrubber fitted newcastlemax vessels (built 2020) for $145.5m.

The New York-listed bulker owner will take delivery of the duo in the first quarter of 2026 and will fund the acquisition with cash on hand and a drawdown from its revolving credit facility, the company said in a statement released on Wednesday, Nov. 19.

John C. Wobensmith, chairman and CEO of drybulk specialist Genco Shipping and Trading, said he expects to maximize utilization of the newcastlemax pair during a period of compelling market fundamentals.

Wobensmith commented: