<SEC-DOCUMENT>0001140361-15-028221.txt : 20150721
<SEC-HEADER>0001140361-15-028221.hdr.sgml : 20150721
<ACCEPTANCE-DATETIME>20150721211646
ACCESSION NUMBER:		0001140361-15-028221
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150717
FILED AS OF DATE:		20150721
DATE AS OF CHANGE:		20150721

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCO SHIPPING & TRADING LTD
		CENTRAL INDEX KEY:			0001326200
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
		BUSINESS PHONE:		(646) 443-8550

	MAIL ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WOBENSMITH JOHN C
		CENTRAL INDEX KEY:			0001333673

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33393
		FILM NUMBER:		15998861

	MAIL ADDRESS:	
		STREET 1:		35 WEST 56TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2015-07-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001326200</issuerCik>
        <issuerName>GENCO SHIPPING &amp; TRADING LTD</issuerName>
        <issuerTradingSymbol>GNK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001333673</rptOwnerCik>
            <rptOwnerName>WOBENSMITH JOHN C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GENCO SHIPPING &amp; TRADING LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>299 PARK AVENUE, 12TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10171</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and Secretary</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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                <value>Common Stock</value>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>197633</value>
                    <footnoteId id="F1"/>
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                <transactionPricePerShare>
                    <footnoteId id="F1"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
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                <sharesOwnedFollowingTransaction>
                    <value>419753</value>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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                    <footnoteId id="F2"/>
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                <transactionPricePerShare>
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                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>418293</value>
                </sharesOwnedFollowingTransaction>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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            <transactionDate>
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            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>4</transactionFormType>
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                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.3478</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>399900</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
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            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
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                    <footnoteId id="F2"/>
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                    <footnoteId id="F3"/>
                </transactionPricePerShare>
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                </transactionAcquiredDisposedCode>
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                <value>Warrant</value>
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                <value>25.91</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2015-08-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-08-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>476133</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>476133</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>28.73</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2015-08-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-08-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>493402</value>
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            </underlyingSecurity>
            <postTransactionAmounts>
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                    <value>493402</value>
                </sharesOwnedFollowingTransaction>
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                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant</value>
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            <conversionOrExercisePrice>
                <value>34.19</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2015-08-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-08-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>741958</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>20.99</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2014-07-09</value>
            </exerciseDate>
            <expirationDate>
                <value>2021-07-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>26533</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>26533</value>
                </sharesOwnedFollowingTransaction>
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    <footnotes>
        <footnote id="F1">Represents shares acquired  pursuant to that certain Agreement and Plan of Merger, dated as of April 7, 2015, as amended (the &quot;Merger Agreement&quot;) by and among Genco Shipping &amp; Trading Limited (&quot;Genco&quot;), Baltic Trading Limited, a Marshall Islands corporation (&quot;Baltic Trading&quot;), and Poseidon Merger Sub Limited, a Marshall Islands corporation and wholly owned subsidiary of Genco (&quot;Merger Sub&quot;), pursuant to which Merger Sub merged with and into Baltic Trading, with Baltic Trading surviving the Merger as a wholly owned subsidiary of Genco (the &quot;Merger&quot;).  Pursuant to the Merger Agreement, at the effective time of the Merger, each of the reporting person's shares of Baltic Trading common stock was cancelled in exchange for the right to receive 0.216 shares of Genco common stock.</footnote>
        <footnote id="F2">These shares were sold under instructions given in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in order to satisfy the reporting person's tax obligations for restricted shares of common stock of Baltic Trading that vested on July 17, 2015 and were converted into shares of  Genco in connection with the Merger.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.30 to $7.60 (inclusive) on 7/17/15, from $6.85 to $7.74 (inclusive) on 7/20/15, and from $7.455 to $7.77 (inclusive) on 7/21/15. The reporting person undertakes to provide to Genco, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ John C. Wobensmith</signatureName>
        <signatureDate>2015-07-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
