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Genco Shipping & Trading Ltd. Message Board

  • jeffwills45 jeffwills45 Sep 20, 2012 8:46 AM Flag

    Spot 4 Capes now up 3,000 in 3 days

    This is almost a double in rate starting at 3900 last week. The higher rate should support GNK price in the 4 to 5 range. We still need over 10,000 before we can move past 6 to 9. Not out of the woods yet, but things are looking brighter.

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    • Brighter than absolutely HORRIBLE is still pretty lousy. The rates still don't actually put ANY cash into GNK. They only offset the operating costs of the Capes. The other classes have fallen so hard this Q that they will kill the earnings and will make Q4 even WORSE (and it will suck with the ending of the Hadrian/Constantine charters) than it would have been otherwise.

1.700.00(0.00%)Apr 21 4:07 PMEDT

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