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Genco Shipping & Trading Ltd. Message Board

  • Mr_Foz Mr_Foz Dec 6, 2007 10:39 AM Flag

    Wow, Genco is a well run company!

    Howdy Gang,

    One of my better holdings.
    One of the better run shipping companies out there.

    Build a long position and trade around on the volatility.

    Big, phat channel to work with right now.
    And, a $.66 divi every quarter.

    They're dug in to Asia growth, with more ships coming online shortly.

    Shaky start from IPO, but what a growth story since.

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    • I think you'll get that spike, perhaps to $77; where they let it run to before. Good Luck.


    • LOL...

      I'm playing it differently. Swing trading and in @ $63. Got a sell at $71 and a stop on the other end @ $57.50.

      I'm OK with the sub $50 price (to load up for a REAL profit) as long as we spike to $71 first. ;^)

      Doggone options are EXPENSIVE in the entire sector. I'm hoping the calming price swings of late will cut into that.

    • Good to see you, Joe.
      Hope all is well.

      Again, trying to accumulate on the cheap.
      Nice volatile swings here, plus strong divi.

      If we ever get down under $50 again, time to really accumulate, IMHO.


    • Holy crap...the board is open!

      One of my biggest holdings here as well. Welcome all.

      • 1 Reply to damons2000
      • Damons2K,

        Have you been following the GNK investment in Jinhui?

        I think these guys have the Asian connection on lock.

        Also, I love the latest article where it's mentioned:

        Press Release Source: Genco Shipping & Trading Limited

        Genco Shipping & Trading Limited Takes Delivery of Fourth Capesize Vessel
        Thursday November 15, 4:15 pm ET

        NEW YORK, Nov. 15 /PRNewswire-FirstCall/ -- Genco Shipping & Trading Limited (NYSE: GNK - News) today announced that it has taken delivery of the Genco Titus, a 177,000 dwt Capesize newbuilding. The Genco Titus is the fourth vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation group.
        The Company expects to deliver the Genco Titus to its charterer, Cargill International S.A., on November 17, 2007 to commence a time charter for 48 months at a gross rate of $45,000 per day, less a 5% third party brokerage commission. The charter, which is due to expire in November 2011, also includes a 50 percent index-based profit sharing component based on the daily BCI index. The charterer has the option to extend the charter for a period of one year.

        Robert Gerald Buchanan, President, said, "We are pleased to take delivery of the Genco Titus. With this vessel, we have once again expanded the Company's earnings power and we expect to take delivery of six additional drybulk vessels by the end of the year. Our time charter for the Genco Titus includes an index-based profit sharing component that provides the opportunity to benefit from a strong rate environment without sacrificing the stability of the base rate."

        SIX additional dry-bulk vessels by the end of the year.
        That's a growth story.
        Good Luck and Peace.

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