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Genco Shipping & Trading Ltd. Message Board

  • gh0613 gh0613 Jan 21, 2013 3:55 PM Flag

    Average daily rate is around $7600 for today

    Even BDI is at almost the highest level for the month, the daily rate for GNK is around $7600 per day based on the current BDI. The cash break even is $10500 per day. They would lose $14m for the quarter if BDI has no more improvement. At the same time, GNK has huge debt without any workaround. It will be down to $1 soon, like EXM.

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