Pharma Investments, Ventures & Law Weekly
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Pharma Investments, Ventures & Law Weekly
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Genco Shipping & Trading Limited
Genco Shipping & Trading Limited Details Limited Exposure to Samsun Logix
March 1st, 2009
Genco Shipping & Trading Limited (NYSE:GNK) confirmed that the Genco Cavalier, a 2007-built Supramax vessel, is the only ship in the Company's 32-vessel operating fleet that was on charter to Samsun Logix Corporation, which the Company understands has filed for the equivalent of bankruptcy protection in South Korea. Charter hire for the Genco Cavalier has been received up until January 30, 2009. The charter for the Genco Cavalier represented approximately 3% of Genco's reported revenues for the third quarter of 2008. Excluding the Samsun charter for the Genco Cavalier, the Company has approximately 65% of its fleet's estimated available days secured on time charters for the remainder of...
Source: Pharma Investments, Ventures & Law Weekly (2009-03-01)
|
