<SEC-DOCUMENT>0001140361-22-028053.txt : 20220803
<SEC-HEADER>0001140361-22-028053.hdr.sgml : 20220803
<ACCEPTANCE-DATETIME>20220803165446
ACCESSION NUMBER:		0001140361-22-028053
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20220803
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220803
DATE AS OF CHANGE:		20220803

FILER:

	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
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33393
		FILM NUMBER:		221133414

	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
</SEC-HEADER>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>

      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>

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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CURRENT REPORT</div>

      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</div>

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        <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
          following provisions (<span style="font-size: 10pt; font-style: italic;">see</span> General Instruction A.2. below):</div>

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<div>&#160;</div>
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                <div style="text-align: left; font-size: 10pt;">&#127;</div>
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    <td style="width: auto; vertical-align: top;"> <span style="font-family: 'Times New Roman';"><br />
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    <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: left; font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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                <div style="text-align: left; font-size: 10pt;">&#127;</div>
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                <div style="text-align: left; font-size: 10pt;">&#127;<ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_5f59b8d4722846ea887a7377200642d8" contextRef="c20220803to20220803" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></div>
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    <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
                <div style="text-align: left; font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2
        of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

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      <div style="text-align: right; text-indent: 0pt; margin-left: 18pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';">Emerging growth company</span><span style="font-family: 'Times New Roman';">&#160; <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_778d7a6f4ac5499ab0756d218ab34324" contextRef="c20220803to20220803" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <span style="font-size: 10pt;">&#127;</span></span></div>

      <div style="font-family: 'Times New Roman';">&#160;</div>

      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
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      <div style="font-family: 'Times New Roman';">&#160;</div>

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        <div>
          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Securities </span>registered pursuant to Section 12(b) of the Act:<br />
          </div>

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      <div style="font-family: 'Times New Roman';">&#160;</div>

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              <div style="text-align: left; font-size: 10pt;">Title of each class</div>
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              <div style="text-align: left; font-size: 10pt;">Trading Symbol(s)</div>
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              <div style="text-align: left; font-size: 10pt;">Name of exchange on which registered</div>
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    <td colspan="1" style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 32%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
              <div style="text-align: left; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_ef2ff1bb19744423bf0e0c1161154733" contextRef="c20220803to20220803">Common stock, par value $0.01 per share</ix:nonNumeric><br />
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              <div style="text-align: left; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_d2ea723843ae41d18e94b64729a69b32">New York Stock Exchange (NYSE)</span><br />
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      <div style="font-family: 'Times New Roman';">&#160;</div>

      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of Genco Shipping &amp; Trading Limited (the &#8220;Company&#8221;), dated <span style="font-size: 10pt;">August 3</span>, 2022, reporting the Company&#8217;s financial results for the second quarter ended June 30, 2022.</div>

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      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The information set forth under &#8220;Item 2.02 Results of Operations and Financial Condition,&#8221; including Exhibit 99.1 attached hereto, shall not be deemed &#8220;filed&#8221; for
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              <div style="text-align: left; text-indent: -7.75pt; margin-left: 7.75pt; font-size: 10pt;"><span style="text-decoration: underline;">Exhibit No.</span></div>
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    <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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              <div style="text-align: left; font-size: 10pt;">Press Release dated August 3, 2022.</div>
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              <div style="text-align: left; font-size: 10pt;">104</div>
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    <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURE</div>

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      <div style="text-align: justify; text-indent: 54pt; font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, Genco Shipping &amp; Trading Limited has duly caused this report to be signed
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              <div style="text-align: left; font-size: 10pt;">GENCO SHIPPING &amp; TRADING LIMITED</div>
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              <div style="text-align: left; font-size: 10pt;">DATE:&#160;&#160; August 3, 2022</div>
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              <div style="text-align: left;"><span style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Apostolos Zafolias</span><span style="font-family: 'Times New Roman';"><br />
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    <td style="width: 45%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT INDEX</div>

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              <div style="text-align: left; text-indent: -9.35pt; margin-left: 9.35pt; font-size: 10pt; font-weight: bold;">Exhibit No.</div>
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              <div style="text-align: left; font-size: 10pt;"><a href="brhc10040336_ex99-1.htm">99.1</a></div>
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    <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman';">&#160;</td>

    <td style="width: 88%; vertical-align: top; font-family: 'Times New Roman';">
              <div style="text-align: left; font-size: 10pt;">Press Release dated August 3, 2022.</div>
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              <div style="text-align: left; font-size: 10pt;">104</div>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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        <div style="text-align: right;"><font style="font-weight: bold; font-size: 10pt;">Exhibit 99.1</font><font style="font-size: 10pt;"><br>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">GENCO SHIPPING &amp; TRADING LIMITED ANNOUNCES</div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SECOND QUARTER FINANCIAL RESULTS</div>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">New York, New York, August 3, 2022 &#8211; Genco Shipping &amp; Trading Limited (NYSE:GNK) (&#8220;Genco&#8221; or the &#8220;Company&#8221;), the largest U.S. headquartered<font style="font-family: 'Times New Roman'; color: rgb(255, 0, 0);">&#160;</font>drybulk shipowner focused on the global transportation of commodities, today reported its financial results for the three months and six months ended June 30, 2022.</div>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following financial review discusses the results for the three months and six months ended June 30, 2022 and June 30, 2021.</div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Second Quarter 2022 and Year-to-Date Highlights</u></div>
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              <div style="font-family: 'Times New Roman';">Declared a $0.50 per share dividend for the second quarter of 2022</div>
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              <div style="font-family: 'Times New Roman';">Represents the third dividend payment under our value strategy and second full payout utilizing our run rate voluntary quarterly debt prepayment figure of $8.75 million</div>
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              <div style="font-family: 'Times New Roman';">Q2 2022 dividend represents an annualized yield of 10% on Genco&#8217;s closing share price on August 2, 2022</div>
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              <div style="font-family: 'Times New Roman';">Marks the Company&#8217;s 12<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> consecutive quarterly payout, reflecting cumulative dividends totaling $3.015 per share</div>
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              <div style="font-family: 'Times New Roman';">Our quarterly dividend reflects a higher Q2 2022 planned drydocking schedule as we frontloaded these costs</div>
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              <div style="font-family: 'Times New Roman';">Q2 2022 dividend is payable on or about August 23, 2022 to all shareholders of record as of August 16, 2022</div>
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              <div style="font-family: 'Times New Roman';">Prepaid $8.75 million of debt on a voluntary basis during Q2 2022, to reduce our debt to $188.5 million</div>
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              <div style="font-family: 'Times New Roman';">Net loan-to-value of 12%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1 </sup>as of August 2, 2022</div>
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              <div style="font-family: 'Times New Roman';">Since the start of 2021, we have paid down $260.7 million or 58% of our debt</div>
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              <div style="font-family: 'Times New Roman';">Recorded net income of $47.4 million for the second quarter of 2022</div>
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              <div style="font-family: 'Times New Roman';">Basic and diluted earnings per share of $1.12 and $1.10, respectively</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Voyage revenues totaled $137.8 million and net revenue<font style="font-family: 'Times New Roman';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></font> (voyage revenues minus voyage expenses, charter hire expenses and realized
                gains or losses on fuel hedges) totaled $100.9 million during Q2 2022</div>
            </td>
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      </table>
      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Our average daily fleet-wide time charter equivalent, or TCE<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>, for Q2 2022 was $28,756, 36% higher year over year and our highest second quarter TCE since 2010</div>
            </td>
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      <div> <br>
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        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We estimate our TCE to date for Q3 2022 to be $25,059 for 79% of our owned fleet available days, based on both period and current spot fixtures</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Recorded EBITDA of $64.2 million during Q2 2022<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Maintained a strong liquidity position of $269.5 million as of June 30, 2022, including:</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$50.6 million of cash on the balance sheet</div>
            </td>
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      <div style="font-size: 10pt;">&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">o</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$218.9 million of revolver availability</div>
            </td>
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      </table>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">John C. Wobensmith, Chief Executive Officer, commented, &#8220;Drawing on our significant
          scale and barbell approach to fleet composition, we generated strong earnings in the second quarter, as EPS increased from the first quarter of 2022 and nearly 50% on a year over year basis. Following our decision to frontload our drydockings in
          the second quarter, we remain in a strong position to continue to provide shareholders with sizeable dividends going forward.&#160; Since implementing our value strategy, we have declared $1.96 per share in dividends and based on our continued
          voluntary debt repayments combined with our disciplined and differentiated approach, we anticipate strong dividend growth in the third quarter.</font><font style="font-size: 10pt;">&#8221;</font></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Mr. Wobensmith, continued, &#8220;Our earnings power remains strong, and we continue to
          benefit from the </font><font style="font-size: 10pt;">significant operating leverage of our sizeable fleet and best-in class commercial operating platform. For the third quarter, <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">we have booked </font>the majority of our available days at over $25,000 per day and are poised to continue to take advantage of <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">favorable drybulk fundamentals</font>.
          The market continues to be driven by an attractive supply and demand balance and the historically low newbuilding orderbook, which provides a low threshold for demand to exceed supply. Going forward, our focus remains on further implementing our
          value strategy as we continue to create a unique drybulk vehicle with an attractive risk-reward profile.&#8221;</font></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><a name="z_Hlk8204144"></a><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>Represents the principal amount of our credit facility debt outstanding less our cash and cash equivalents as of
        June 30, 2022 divided by estimates of the market value of our fleet as of August 2, 2022 from VesselsValue.com.&#160; The actual market value of our vessels may vary.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2 </sup>We believe the non-GAAP measure presented provides investors with a means of better evaluating and understanding the Company&#8217;s operating performance.
        Please see Summary Consolidated Financial and Other Data below for a further reconciliation.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Comprehensive Value Strategy</u></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco&#8217;s comprehensive value strategy is centered on three pillars:</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Dividends:</font><font style="font-size: 10pt;"> paying sizeable quarterly cash dividends to
                  shareholders</font></div>
            </td>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Deleveraging:</font><font style="font-size: 10pt;"> through voluntary debt prepayments to maintain
                  low financial leverage, and</font></div>
            </td>
          </tr>

      </table>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Growth:</font><font style="font-size: 10pt;"> opportunistically growing the Company&#8217;s asset base</font></div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">We believe this strategy is a key differentiator for Genco and will drive shareholder value over the long-term. We therefore believe Genco has created a compelling
        risk-reward balance positioning the Company to pay a sizeable quarterly dividend across diverse market environments. At the same time, we also maintain significant <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">flexibility to
          grow the fleet through accretive vessel acquisitions.</font> Key characteristics of our unique platform include:</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Industry low cash flow breakeven rate</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
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        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">2</font></div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Net loan-to-value of 12% as of August 2, 2022</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Strong liquidity position of $269.5 million consisting of cash and our undrawn revolver as of June 30, 2022</div>
            </td>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">High operating leverage with our scalable fleet across the major and minor bulk sectors</div>
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      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">In 2022 to date, Genco has taken the following steps in line with our corporate strategy:</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Dividends: </font><font style="font-size: 10pt;">declared dividends totaling $1.29 per share for
                  1H 2022, marking the first two full payouts under our value strategy utilizing our run rate voluntary quarterly debt repayment</font></div>
            </td>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Deleveraging: </font><font style="font-size: 10pt;">paid down $57.5 million of debt during 1H
                  2022. Since the beginning of 2021, we have paid down $260.7 million or 58% of our debt</font></div>
            </td>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Growth: </font><font style="font-size: 10pt;">completed the acquisition of two high quality, fuel
                  efficient Ultramax vessels in January 2022</font></div>
            </td>
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            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Securing revenue: </font><font style="font-size: 10pt;">opportunistically fixed various period
                  time charterers to secure cash flows and de-risk recent acquisitions as shown in the following table:</font></div>
            </td>
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      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z349a0a58b63c415288f6fac4eb9e5cf1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Vessel</div>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Type</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1.01%;">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">DWT</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1.01%;">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Year Built</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1.01%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1.01%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Rate</div>
            </td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Duration</div>
            </td>
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              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Min Expiration</div>
            </td>
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              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Baltic Wolf</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">177,752</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2010</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255); font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">30,250</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">22-28 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Jun-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Maximus</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">169,025</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2009</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">27,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">24-30 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Sep-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Vigilant</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">63,671</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255); font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">17,750</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">11-13 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Sep-22</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Mary</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">61,085</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">31,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">6-8 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Nov-22</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Freedom</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">63,671</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255); font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">23,375</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">20-23 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Mar-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Baltic Scorpion</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">63,462</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">30,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">10-13 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Mar-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Baltic Hornet</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">63,574</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2014</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255); font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">24,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">20-23 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Apr-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Baltic Wasp</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">63,389</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.11%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1.01%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.01%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">25,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">23-25 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 13%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Jun-23</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="ze121a5cd9d52457e9989ca3dd16536cd" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Claudius</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: #000000 solid 2px; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">169,001</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: #000000 solid 2px; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: right; width: 9.11%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2010</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1.01%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1%; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 20%; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">&#160;94% of BCI + scrubber premium</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">11-14 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">Jan-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Resolute</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.11%;">
              <div style="font-family: 'Times New Roman';">181,060</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.11%;">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1.01%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 20%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">&#160;121% of BCI + scrubber premium</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">11-14 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Jan-23</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Genco Defender</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 14%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.11%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">180,021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.11%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2015</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.01%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1.01%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 20%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">&#160;121% of BCI + scrubber premium</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">11-14 months</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 13%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Feb-23</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk78710847"></a>Our debt outstanding as of June 30, 2022 was $188.5 million. In Q2 2022, we voluntarily paid down debt totaling $8.75 million, in line with
        our run rate quarterly voluntary debt repayment. Importantly, we have no mandatory debt amortization payments until 2026 when the facility matures. Regardless of this favorable mandatory amortization schedule, we plan to continue to voluntarily pay
        down our debt with the medium-term objective of reducing our net debt to zero and a longer-term goal of zero debt.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Dividend policy</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">For the second quarter of 2022, Genco declared a cash dividend of $0.50 per share. This represents the second full quarterly dividend under our comprehensive value
        strategy utilizing our run rate voluntary quarterly debt repayment of $8.75 million and third dividend payment under our value strategy overall. The cumulative dividends declared under our value strategy to date are $1.96 per share.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Under the quarterly dividend policy adopted by our Board of Directors, the amount available for quarterly dividends is to be calculated based on the formula in the
        table below. The table includes</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">3</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">the calculation of the actual Q2 2022 dividend and estimated amounts for the calculation of the dividend for Q3 2022:</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z2453a086421945fabe04943355ea0c12" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; font-size: 10pt; width: 70%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Dividend calculation</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Q2 2022 actual</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Q3 2022 estimates</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 70%;">
              <div style="text-align: center; font-family: 'Times New Roman';">Net revenue</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); font-size: 10pt; width: 12%;">
              <div style="font-family: 'Times New Roman';">100.93</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';"> Fixtures + market</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Operating expenses</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(37.63</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(28.58</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Operating cash flow</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">63.29</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Less: debt repayments</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(8.75</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(8.75</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">Less: capex for dydocking/BWTS/ESDs</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(22.56</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(6.81</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">Less: reserve</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(10.75</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(10.75</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 70%;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Cash flow distributable as dividends</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 12%;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">21.24</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> Sum of the above</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Number of shares to be paid dividends</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">42.6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">42.6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 70%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Dividend per share</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">0.50</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 70%; font-size: 10pt; text-align: center; font-style: italic;">Numbers in millions except per share amounts</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
          </tr>

      </table>
      <div style="text-align: center;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">For purposes of the foregoing calculation, operating cash flow is defined as<font style="font-family: 'Times New Roman'; font-weight: bold;">&#160;</font>net revenue
        (consisting of<font style="font-family: 'Times New Roman'; font-weight: bold;">&#160;</font>voyage revenue less voyage expenses, charter hire expenses, and realized gains or losses on fuel hedges), less operating expenses (consisting of vessel operating
        expenses, general and administrative expenses other than non-cash restricted stock expenses, technical management fees, and interest expense other than non-cash deferred financing costs).</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Key Q2 2022 dividend items:</font><font style="font-size: 10pt;"> during the second
          quarter of 2022, we paid down $8.75 million of debt on a voluntary basis, representing our run rate voluntary quarterly debt repayment. This amount was deducted from operating cash flow in our second quarter dividend payment. Drydocking, ballast
          water treatment system and energy saving device costs related to eight vessels that drydocked during the second quarter. The second quarter represents our heaviest drydocking quarter for 2022. Furthermore, our reserve for Q2 2022 was $10.75
          million as previously announced in advance. Anticipated uses for the reserve include, but are not limited to, vessel acquisitions, debt repayments, and general corporate purposes. In order to set aside funds for these purposes, we plan to set the
          reserve on a quarterly basis for the subsequent quarter, and it is anticipated to be based on future quarterly debt repayments and interest expense<font style="font-family: 'Times New Roman'; font-weight: bold;">.</font></font></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Q3 2022 reserve: </font><font style="font-size: 10pt;">the quarterly reserve for the
          third quarter of 2022 is expected to be $10.75 million. The reserve was determined based on $8.75 million for voluntary debt repayments anticipated to be made in Q3 2022 as well as estimated cash interest expense on our debt and remains subject
          to our Board of Directors&#8217; discretion. The quarterly debt repayment and reserve will be reassessed on a quarterly basis in advance by the Board of Directors and management.<font style="font-family: 'Times New Roman'; font-weight: bold;">&#160;</font>Estimated


          expenses, debt repayments, and capital expenditures for Q3 2022 are estimates presented for illustrative purposes. Maintaining a quarterly reserve as well as optionality for the uses of the reserve are important factors of our corporate strategy
          that are intended to allow Genco to retain liquidity to take advantage of a variety of market conditions.</font></div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt;"> <br>
        </font></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">4</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Drydocking capex: </font><font style="font-size: 10pt;">during Q2 2022, we completed
          the majority of our drydocking related capex for the year. Looking ahead to Q3 2022, we expect drydocking capex to decrease to approximately $6.8 million, from $22.6 million in Q2 2022. The actual results shown will vary.</font></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Board expects to reassess the payment of dividends as appropriate from time to time. The quarterly dividend policy and declaration and payment of dividends are
        subject to legally available funds, compliance with law and contractual obligations and the Board of Directors&#8217; determination that each declaration and payment is at the time in the best interests of the Company and its shareholders. Our quarterly
        dividend policy and declaration and payment of dividends are subject to legally available funds, compliance with applicable law and contractual obligations (including our credit facilities) and the Board of Directors&#8217; determination that each
        declaration and payment is at the time in the best interests of the Company and its shareholders after its review of our financial performance.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Genco&#8217;s active commercial operating platform and fleet deployment strategy</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk527117935"></a>Overall, we utilize a portfolio approach towards revenue generation through a combination of short-term, spot market employment as well as
        opportunistically booking longer term coverage. Our fleet deployment strategy currently remains weighted towards short-term fixtures, which provide us with optionality on our sizeable fleet. Our barbell approach towards fleet composition enables
        Genco to gain exposure to both the major and minor bulk commodities with a fleet whose cargoes carried align with global commodity trade flows. This approach continues to serve us well given the upside potential in major bulk rates together with
        the relative stability of minor bulk rates.</div>
      <div style="text-align: justify; font-size: 10pt;"><a name="z_Hlk4073782"></a><a name="z_Hlk532922612"></a><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Based on current fixtures to date, our estimated TCE to date for the third quarter of 2022 on a load-to-discharge basis is presented below. Our estimated Q3 TCE based
        on current fixture points to another strong quarter. Over the last year, we selectively booked period time charter coverage for up to two years on various Capesize and Ultramax vessels. We view these fixtures as part of our portfolio approach to
        fixture activity and prudent to take advantage of in the firm freight rate environment.</div>
      <div style="text-align: justify; font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; margin-left: 5.4pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Estimated net TCE - Q3 2022 to Date</div>
      <table cellspacing="0" cellpadding="0" class="cfttable" id="z0166b3e36c53488ab5e9c3a1afd5d543" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">Vessel Type</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Period</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Spot</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Fleet-wide</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">% Fixed</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 18pt;">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">26,883</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">21,497</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">22,339</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">82</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 18pt;">Ultramax/Supramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">23,682</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">28,030</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">26,756</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">77</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 18pt;">Fleet-wide</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">24,482</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">25,241</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">25,059</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">79</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Given several of our vessels are fixed on period time charters for up to two years, we have provided a TCE breakout of the period time charters as well as the spot
        trading fixtures in the third quarter to date. Actual rates for the third quarter will vary based upon future fixtures. We have approximately six Capesize vessels coming open in the coming weeks, a portion of which we plan to ballast to the
        Atlantic basin.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">5</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Financial Review: 2022 Second Quarter</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company recorded net income for the second quarter of 2022 of $47.4 million, or $1.12 and $1.10 basic and diluted earnings per share, respectively. Comparatively,
        for the three months ended June 30, 2021, the Company recorded net income of $32.0 million, or $0.76 and $0.75 basic and diluted earnings per share, respectively.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company&#8217;s revenues increased to $137.8 million for the three months ended June 30, 2022, as compared to $121.0 million recorded for the three months ended June 30,
        2021, primarily due to higher rates achieved by our minor bulk vessels, partially offset by a decrease in voyage revenue achieved by our major bulk vessels as a result of a decrease in available days due to scheduled drydockings The average daily
        time charter equivalent, or TCE, rates obtained by the Company&#8217;s fleet was $28,756 per day for the three months ended June 30, 2022 as compared to $21,137 per day for the three months ended June 30, 2021. During the second quarter of 2022, the
        drybulk freight market improved from the seasonally softer first quarter. Russia&#8217;s war in Ukraine and the humanitarian crisis that has followed commenced in February and continues to lead to a re-routing of cargo flows for the coal and grain trades
        as well as increased ton-miles. COVID-related lockdowns in China as well as lower Brazilian iron ore export volumes impacted iron ore cargo flows in 1H 2022. However, looking ahead to 2H 2022, we view these two factors as providing potential
        support to the Capesize market from current levels given the gradual easing of China&#8217;s lockdowns and the expectation for seasonally improved iron ore export volume from Brazil.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Voyage expenses<font style="font-family: 'Times New Roman'; color: rgb(255, 0, 0);">&#160;</font>were $32.5 million for the three months ended June 30, 2022 compared to
        $36.7 million during the prior year period. This decrease was primarily due to lower bunker consumption for our major bulk vessels. Vessel operating expenses increased to $29.5 million for the three months ended June 30, 2022 from $18.8 million for
        the three months ended June 30, 2021. The increase is explained in the subsequent paragraph. General and administrative expenses increased to $6.4 million for the second quarter of 2022 compared to $5.9 million for the second quarter of 2021,
        primarily due to an increase in non-cash stock amortization expenses and travel related expenditures, partially offset by lower legal and professional fees. Depreciation and amortization expenses increased to $14.5 million for the three months
        ended June 30, 2022 from $13.8 million for the three months ended June 30, 2021, primarily due to the delivery of six Ultramax vessels during the second half of 2021 and the first quarter of 2022, partially offset by a decrease in depreciation due
        to the increase in the estimated scrap value of the vessels from $310 per lwt to $400 per lwt effective January 1, 2022.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk102550944"></a>Daily vessel operating expenses, or DVOE, amounted to $<font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">7,358 </font>per


        vessel per day for the second quarter of 2022 compared to $5,151 per vessel per day for the second quarter of 2021. The increase was primarily due to higher crew expenses as a result of increased crew wages, COVID-19 related expenses and
        disruptions, and the timing of crew changes. Higher repair and maintenance costs on certain vessels, and, to a lesser degree, an increase in the purchase of initial stores and spare parts, also contributed to this increase<font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">. </font>COVID-19 expenses were higher during the first half of the year due to costs associated with repatriating Chinese crew during heightened zero COVID policies in China as we transitioned to Indian
        and Filipino crews for the fleet. We have now completed the transition of our crews and therefore anticipate crew expenses to decrease over the balance of the year. <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Additionally,
          we experienced higher repair and maintenance costs on certain vessels, as well as an increase in the purchase of initial stores and spare parts as we completed the transition of</font></div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);"> <br>
        </font></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">6</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">vessels to our new technical management joint venture through the first half of the
          year. We have replenished our vessels&#8217; stores and spares after our joint venture took over the technical management of our fleet, and therefore expect our operating expenses to stabilize during the second half of the year. </font><font style="font-size: 10pt;">We believe daily vessel operating expenses are best measured for comparative purposes over a 12&#8209;month period in order to take into account all of the expenses that each vessel in our fleet will incur over a full year of
          operation. Based on estimates provided by our technical managers, our DVOE budget for the third quarter of 2022 is $4,950 per vessel per day on a fleet-wide basis including an estimate for COVID-19 related expenses. For 2022, we anticipate
          meeting our full year budget of $5,860 per vessel per day as we expect vessel operating expenses to be lower and COVID-related expenses to abate in the second half of the year as we have completed the transition to our new technical management
          joint venture. However, the potential impacts of COVID-19 and the war in Ukraine are unpredictable, and the actual amount of our DVOE could be higher or lower than budgeted as a result.</font></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk15463447"></a>Apostolos Zafolias, Chief Financial Officer, commented, &#8220;During the second quarter, we continued to voluntarily delever our balance sheet,
        consistent with our medium-term objective of reducing our net debt to zero. We believe our balance sheet strength represents a core differentiator for Genco, highlighted by our industry leading net loan to value of 12% and our success reducing our
        debt by over $260 million since the beginning of 2021. We have meaningfully lowered our cash flow break even rate and are well positioned to provide shareholders with compelling dividends throughout diverse rate environments. Notably our second
        quarter dividend represents our 12<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> consecutive quarterly dividend, and we expect our dividend per share to increase in the third quarter.&#8221;</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Financial Review: Six Months 2022</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company recorded net income of $89.1 million or $2.11 and $2.07 basic and diluted earnings per share for the six months ended June 30, 2022, respectively. This
        compares to net income of $34.0 million or $0.81 and $0.80 basic and diluted earnings per share for the six months ended June 30, 2021. Revenues increased to $274.0 million for the six months ended June 30, 2022 compared to $208.6 million for the
        six months ended June 30, 2021, primarily due to higher rates achieved by our major and minor bulk vessels. Voyage expenses decreased to $70.9 million for the six months ended June 30, 2022 from $71.8 million for the same period in 2021. TCE rates
        obtained by the Company increased to $26,354 per day for the six months ended June 30, 2022 from $16,508 per day for the six months ended June 30, 2021. Total operating expenses for the six months ended June 30, 2022 and 2021 were $182.7 million
        and $166.0 million, respectively. General and administrative expenses for the six months ended June 30, 2022 increased to $12.4 million as compared to the $12.0 million in the same period of 2021 primarily due to an increase in non-cash stock
        amortization expense and travel related expenditures, partially offset by lower legal and professional fees. DVOE was $7,100 for the year-to-date period in 2022 versus $5,015 in 2021. The increase in daily vessel operating expense was due to
        COVID-19 related expenditures and higher crew related expenses. <font style="font-family: 'Times New Roman'; color: rgb(0, 0, 0);">As we completed the transition of vessels to our new technical management joint venture through the first half of
          the year,</font> higher repair and maintenance costs on certain vessels, and, to a lesser degree, an increase in the purchase of initial stores and spare parts, also contributed to this increase. EBITDA for the six months ended June 30, 2022
        amounted to $122.2 million compared to $70.1 million during the prior period. During the six months of</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">7</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">2022 and 2021, EBITDA included losses on sale of vessels. Excluding these items, our adjusted EBITDA would have amounted to $122.2 million and $70.9 million, for the
        respective periods.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Liquidity and Capital Resources</u></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Cash Flow</u></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><a name="z_Hlk39613672"></a>Net cash provided by operating activities for the six months ended June 30, 2022 and 2021 was $99.2 million and $62.6 million,
        respectively. This increase in cash provided by operating activities was primarily due to higher rates achieved by our major and minor bulk vessels and changes in working capital, as well as a decrease in interest expense.&#160; These increases in cash
        provided by operating activities were partially offset by an increase in drydocking costs incurred.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net cash used in investing activities for the six months ended June 30, 2022 was $50.0 million as compared to net cash provided by investing activities of $4.2 million
        for the six months ended June 30, 2021.&#160; This fluctuation was primarily due to the purchase of two Ultramax vessels which delivered during the first quarter of 2022.&#160; Additionally, there was a decrease in net proceeds from the sale of vessels as
        there were no vessels sold during the first half of 2022, as well as an increase in the purchase of other fixed assets during the six months ended June 30, 2022 as compared to the same period in 2021.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net cash used in financing activities during the six months ended June 30, 2022 and 2021 was $119.1 million and $85.2 million, respectively.&#160; The increase was
        primarily due to a $58.6 million increase in the payment of dividends during the first half of 2022 as compared to the same period during 2021.&#160; This increase was partially offset by an overall decrease in debt repayments of $24.7 million during
        the first half of 2022 as compared to the same period during 2021.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Capital Expenditures</u></div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of August 2, 2022, Genco Shipping &amp; Trading Limited&#8217;s fleet consists of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of
        approximately 4,636,000 dwt and an average age of 10.4 years.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">In addition to acquisitions that we may undertake, we will incur additional capital expenditures due to special surveys and drydockings. Furthermore, we plan to
        upgrade a portion of our fleet with energy saving devices and apply high performance paint systems to our vessels in order to reduce fuel consumption and emissions. We estimate our capital expenditures related to drydocking, including capitalized
        costs incurred during drydocking related to vessel assets and vessel equipment, ballast water treatment system costs, fuel efficiency upgrades and scheduled off-hire days for our fleet for 2022 to be:</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" class="cfttable" id="z1ae49671973648f1a07be30285ffcd18" style="width: 80%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

          <tr>
            <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 44%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: left; width: 9%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">
              <div style="text-align: center; font-weight: bold;"><u>Q3 2022</u></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: left; width: 9%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">
              <div style="text-align: center; font-weight: bold;"><u>Q4 2022</u></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-weight: bold;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: left; width: 9%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">
              <div style="text-align: center; font-weight: bold;"><u>2023</u></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); font-family: 'Times New Roman';">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255); width: 44%;">
              <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman';">Estimated Drydock Costs <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$4.0 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$6.4 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$2.4 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; font-size: 10pt; width: 44%;">
              <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman';">Estimated BWTS Costs<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$0.6 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$1.4 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; text-align: center;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255); width: 44%;">
              <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman';">Estimated Fuel Efficiency Upgrade Costs <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$2.3 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$2.3 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; text-align: center;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">8</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" align="center" class="cfttable" id="zb42f9c5e6ec146a6bc33f8b068844458" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 80%;">

          <tr>
            <td valign="bottom" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255); width: 44%;">
              <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman';">Total Estimated Costs</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$6.8 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$10.1 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$2.4 million</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 44%; font-size: 10pt;">
              <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman';">Estimated Offhire Days <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; text-align: center;">159</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; text-align: center;">133</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman'; text-align: center;">70</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(1) Estimates are based on our budgeted cost of drydocking our vessels in China. Actual costs will vary based on various factors, including where the drydockings are
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(2) Estimated costs associated with the installation of ballast water treatment systems is expected to be funded with cash on hand.</div>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(3) Estimated costs associated with the installation of fuel efficiency upgrades are expected to be funded with cash on hand.</div>
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      (4) Actual length will vary based on the condition of the vessel, yard schedules and other factors. The estimated offhire days per sector scheduled for Q3 2022 consists of 127 days for five Capesizes and 32 days for two Ultramaxes.
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Summary Consolidated Financial and Other Data</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes Genco Shipping &amp; Trading Limited&#8217;s selected consolidated financial and other data for the periods indicated below.</div>
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      <div style="text-align: center; font-size: 10pt;"><br>
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            <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px; border-top: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: middle; font-size: 10pt; border-top: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended</div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">(Dollars in thousands, except share and per share data)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: center; font-family: 'Times New Roman';">(Dollars in thousands, except share and per share data)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">INCOME STATEMENT DATA:</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Revenues:</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Voyage revenues</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">137,764</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">121,008</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">273,991</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">208,599</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Total revenues</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">137,764</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">121,008</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">273,991</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Voyage expenses</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">32,460</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">36,702</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">70,924</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">71,775</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Vessel operating expenses</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">29,463</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">18,789</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">56,477</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">37,834</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Charter hire expenses</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">5,044</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">8,325</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">12,682</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">13,761</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">6,381</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">5,854</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">12,424</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">11,957</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Technical management fees</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">700</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">1,305</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">1,617</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">2,769</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">14,521</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">13,769</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">28,579</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">27,209</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Loss on sale of vessels</div>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">15</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">735</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Total operating expenses</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">88,569</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">84,759</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">182,703</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">166,040</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Operating income</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">49,195</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">36,249</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">91,288</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,559</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Other income</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">767</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">210</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">2,764</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">356</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Interest income</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">68</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">48</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">85</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">119</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Interest expense</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">(2,405</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">(4,470</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">(4,647</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">(9,012</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Other expense, net</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(1,570</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(4,212</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(1,798</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(8,537</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Net income</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">47,625</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">32,037</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">89,490</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">34,022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Less: Net income attributable to noncontrolling interest</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">243</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">419</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 4px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Net income attributable to Genco Shipping &amp; Trading Limited</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">47,382</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">32,037</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">89,071</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">34,022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Earnings per share - basic</div>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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              <div style="font-family: 'Times New Roman';">1.12</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">2.11</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">0.81</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Earnings per share - diluted</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">1.10</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">0.75</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">2.07</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">0.80</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 4px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Weighted average common shares outstanding - basic</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,385,423</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,071,019</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,276,371</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,022,669</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Weighted average common shares outstanding - diluted</div>
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              <div style="font-family: 'Times New Roman';">42,996,676</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">42,612,132</div>
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              <div style="font-family: 'Times New Roman';">42,932,370</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">42,445,184</div>
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              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">BALANCE SHEET DATA (Dollars in thousands):</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -18pt; margin-left: 18pt;"><u>Assets</u></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Cash and cash equivalents</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">44,669</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">114,573</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Restricted cash</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,643</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,643</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">24,963</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">20,116</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Prepaid expenses and other current assets</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">9,237</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">9,935</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">24,563</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">3,894</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 12pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">Vessels, net of accumulated
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,025,403</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">981,141</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Deposits on vessels</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">18,543</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">25,521</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">14,275</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">8,014</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">7,237</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Operating lease right-of-use assets</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">4,790</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,495</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">315</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">315</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Fair value of derivative instruments</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">1,954</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">1,166</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total noncurrent assets</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,065,997</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,028,172</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total assets</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,186,143</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,203,002</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -18pt; margin-left: 18pt;"><u>Liabilities and Equity</u></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Current liabilities:</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Accounts payable and accrued expenses</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">41,183</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">29,956</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Deferred revenue</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,789</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">10,081</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Current operating lease liabilities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">1,944</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">1,858</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total current liabilities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">48,916</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">41,895</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Noncurrent liabilities</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Long-term operating lease liabilities</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,200</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">6,203</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">181,568</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">238,229</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total noncurrent liabilities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">186,768</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">244,432</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total liabilities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">235,684</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">286,327</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Commitments and contingencies</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Equity:</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Common stock</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">423</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">419</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Additional paid-in capital</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,641,664</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,702,166</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,617</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">825</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Accumulated deficit</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(697,752</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(786,823</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total Genco Shipping &amp; Trading Limited shareholders' equity</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">949,952</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">916,587</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 36pt;">Noncontrolling interest</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">507</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">88</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total equity</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">950,459</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">916,675</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -18pt; margin-left: 18pt; padding-bottom: 2px;">
              <div style="margin-left: 9pt">&#160;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -18pt; margin-left: 27pt;">Total liabilities and equity</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,186,143</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,203,002</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="text-align: center; font-size: 10pt;"><br>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">11</font></div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
            </td>
            <td valign="bottom" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">STATEMENT OF CASH FLOWS (Dollars in thousands):</div>
            </td>
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            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';"> (unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Net income</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">89,490</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">34,022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Depreciation and amortization</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">28,579</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">27,209</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Amortization of deferred financing costs</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">841</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">2,235</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Right-of-use asset amortization</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">705</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">690</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Amortization of nonvested stock compensation expense</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,516</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1,073</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Loss on sale of vessels</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">735</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Amortization of premium on derivative</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">110</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">111</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Interest rate cap premium payment</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(240</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Insurance proceeds for protection and indemnity claims</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">169</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">101</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Change in assets and liabilities:</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(4,847</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(921</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">584</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(894</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Increase in inventories</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(7,177</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(4,858</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">8,602</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">5,028</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">(Decrease) increase in deferred revenue</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(4,292</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">954</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Decrease in operating lease liabilities</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(917</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(871</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 27pt;">Deferred drydock costs incurred</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(14,204</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(1,822</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; margin-left: 9pt;">Net cash provided by operating activities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">99,159</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">62,552</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">
              <div style="margin-left: 18pt;">&#160;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Cash flows from investing activities</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Purchase of vessels and ballast water treatment systems, including deposits</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(48,346</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(24,678</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(126</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Purchase of other fixed assets</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(1,927</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(431</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Net proceeds from sale of vessels</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">29,096</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Insurance proceeds for hull and machinery claims</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">293</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">295</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(49,980</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">4,156</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Cash flows from financing activities</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Repayments on the $450 Million Credit Facility</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(57,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Repayments on the $133 Million Credit Facility</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(24,320</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Repayments on the $495 Million Credit Facility</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(57,883</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Cash dividends paid</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(61,572</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(2,983</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Payment of deferred financing costs</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">(11</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Net cash used in financing activities</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(119,083</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(85,186</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Net decrease in cash, cash equivalents and restricted cash</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">(69,904</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">(18,478</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Cash, cash equivalents and restricted cash at beginning of period</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">120,531</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">179,679</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Cash, cash equivalents and restricted cash at end of period</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">50,627</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">161,201</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="text-align: center; font-size: 10pt;"><br>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">12</font></div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 78%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-size: 10pt; width: 78%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Net Income Reconciliation</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Net income attributable to Genco Shipping &amp; Trading Limited</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">47,382</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; padding-bottom: 2px; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Earnings per share - basic</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1.12</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Earnings per share - diluted</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">1.10</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">
              <div style="margin-left: 9pt">&#160;</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Weighted average common shares outstanding - basic</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">42,385,423</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; padding-bottom: 2px; font-size: 10pt;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">42,996,676</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; background-color: rgb(204, 238, 255); font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">
              <div style="margin-left: 9pt">&#160;</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Weighted average common shares outstanding - basic as per financial statements</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">42,385,423</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Dilutive effect of stock options</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">415,578</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; font-size: 10pt; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Dilutive effect of restricted stock units</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">195,675</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 78%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">Weighted average common shares outstanding - diluted as adjusted</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">42,996,676</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-size: 10pt; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-left: 27pt; width: 78%; padding-bottom: 2px; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 46.15%;"><br>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2022</div>
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            <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 1.42%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
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            <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 0.81%; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;"><br>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">(Dollars in thousands)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1.42%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(Dollars in thousands)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">EBITDA Reconciliation:</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1.42%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; padding-bottom: 2px; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Net income attributable to Genco Shipping &amp; Trading Limited</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">47,382</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">32,037</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">89,071</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">34,022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">+ Net interest expense</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">4,422</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">4,562</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">8,893</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">14,521</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">13,769</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">28,579</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">27,209</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%; padding-bottom: 4px;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 27pt;">EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">64,240</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">50,228</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-bottom: 4px double rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">122,212</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">70,124</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%; background-color: rgb(204, 238, 255);"><br>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 18pt;">+ Loss on sale of vessels</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">15</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">735</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 27pt;">Adjusted EBITDA</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">64,240</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">50,243</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; padding-bottom: 4px; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">122,212</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">70,859</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" rowspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 46.15%; padding-bottom: 2px;"><br>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';"><br>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="font-size: 10pt;"><br>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-left: 27pt; font-size: 10pt; width: 46.15%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 1.42%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-left: 27pt; font-size: 10pt; padding-bottom: 2px; width: 46.15%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 1.42%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">FLEET DATA:</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 1.42%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: middle; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); width: 0.81%;">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Total number of vessels at end of period</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">44</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">40</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">44</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">40</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman';">Average number of vessels<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">44.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">40.1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">43.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">41.7</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Total ownership days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (3)</sup></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,004</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,648</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,954</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,545</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman';">Total chartered-in days <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">146</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">446</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">457</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">787</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Total available days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (5)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,656</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,041</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,730</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">8,242</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman';">Total available days for owned fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (6)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">3,510</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">3,595</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">7,273</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">7,455</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Total operating days for fleet<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (7)</sup></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,611</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,998</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,568</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">8,120</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman';">Fleet utilization<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (8)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">97.2</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">
              <div style="font-family: 'Times New Roman';">98.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">95.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">
              <div style="font-family: 'Times New Roman';">98.1</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-left: 27pt; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">AVERAGE DAILY RESULTS:</div>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Time charter equivalent<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (9)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">28,756</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">21,137</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-left: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">26,354</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">16,508</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 46.15%; padding-bottom: 2px;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Daily vessel operating expenses per vessel <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(10)</sup></div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">7,358</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.62%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 10.83%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">5,151</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.42%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">7,100</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1.52%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9.41%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">5,015</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 0.81%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">13</font></div>
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-top: #000000 solid 2px;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">FLEET DATA:</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: middle; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Ownership days</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; font-size: 10pt;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,547.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,547.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,077.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,077.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,365.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">819.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,704.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,550.8</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,092.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,281.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,172.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,689.2</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">227.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Total</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,004.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,647.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,953.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,544.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Chartered-in days</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">111.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">190.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">344.2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">145.7</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">334.2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">266.3</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">442.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Total</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">145.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">445.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">456.6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">786.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Available days (owned &amp; chartered-in fleet)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,108.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,514.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,610.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,020.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,341.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">930.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,792.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,886.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,205.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,595.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,326.8</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,107.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">227.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Total</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,655.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,040.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">7,729.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">8,241.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Available days (owned fleet)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,108.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,514.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,610.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">3,020.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,341.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">819.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,602.4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,542.2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,059.6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,261.4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,060.5</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,665.2</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">227.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Total</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">3,509.8</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">3,594.8</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">7,273.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">7,454.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,100.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,505.6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,555.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,004.8</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,327.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">923.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">2,760.2</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">1,874.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,182.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">1,568.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">2,251.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,050.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">191.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Total</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,610.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">3,997.5</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">7,568.0</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">8,120.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Fleet utilization</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">97.7</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">99.1</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">96.9</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">99.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">98.4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">99.2</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">96.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">98.9</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">95.5</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">97.1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">93.1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">97.4</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">84.1</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Fleet average</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">97.2</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">98.3</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">95.6</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">98.1</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">%</div>
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              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Average Daily Results:</div>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Time Charter Equivalent</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">27,034</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">23,760</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">25,649</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">18,692</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">29,045</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">19,524</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">27,312</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">15,331</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">30,193</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">19,027</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">26,032</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">15,480</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">8,008</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Fleet average</div>
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              <div style="font-family: 'Times New Roman';">21,137</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">26,354</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
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              <div style="font-family: 'Times New Roman';">16,508</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: left; font-family: 'Times New Roman'; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Daily vessel operating expenses</div>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
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              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Capesize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">6,816</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">5,461</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">6,716</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">$</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">5,335</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Ultramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">5,732</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">4,684</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="font-family: 'Times New Roman';">5,922</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">4,820</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Supramax</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">10,161</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,966</div>
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            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">9,100</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">4,714</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Handysize</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
              <div style="font-family: 'Times New Roman';">5,541</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman'; text-indent: -9pt; margin-left: 9pt;">Fleet average</div>
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            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,358</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">5,151</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">7,100</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman';">5,015</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; text-indent: -9pt; margin-left: 9pt; width: 52%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z77010dc901f14475832b104c0571fb82">

          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">EBITDA represents net income attributable to Genco Shipping &amp; Trading Limited plus net interest expense, taxes, and depreciation and amortization. EBITDA is included because it is used by
                management and certain investors as a measure of operating performance. EBITDA is used by analysts in the shipping industry as a common performance measure to compare results across peers. Our management uses EBITDA as a performance measure
                in consolidating internal financial statements and it is presented for review at our board meetings. We believe that EBITDA is useful to investors as the shipping industry is capital intensive which often results in significant depreciation
                and cost of financing. EBITDA presents investors with a measure in addition to net income to evaluate our performance prior to these costs. EBITDA is not an item recognized by U.S. GAAP (i.e. non-GAAP measure) and should not be considered
                as an alternative to net income, operating income or any other indicator of a company's operating performance required by U.S. GAAP. EBITDA is not a measure of liquidity or cash flows as shown in our consolidated statement of cash flows.
                The definition of EBITDA used here may not be comparable to that used by other companies.</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was part of our fleet during the
                period divided by the number of calendar days in that period.</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">14</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb122fbce607d45f88d485b7fc00aff27">

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            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define ownership days as the aggregate number of days in a period during which each vessel in our fleet has been owned by us. Ownership days are an indicator of the size of our fleet over a
                period and affect both the amount of revenues and the amount of expenses that we record during a period.</div>
            </td>
          </tr>

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          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define chartered-in days as the aggregate number of days in a period during which we chartered-in third-party vessels.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5597aa6f6a23484189e255c1a52ddb80">

          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">5)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define available days as the number of our ownership days and chartered-in days less the aggregate number of days that our vessels are off-hire due to familiarization upon acquisition, repairs
                or repairs under guarantee, vessel upgrades or special surveys.&#160; Companies in the shipping industry generally use available days to measure the number of days in a period during which vessels should be capable of generating revenues.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z07da07c24d9c4e9097bbb8acff253427">

          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">6)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define available days for the owned fleet as available days less chartered-in days.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z308d9924ec284b639dedfd22860f7fc4">

          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">7)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define operating days as the number of our total available days in a period less the aggregate number of days that the vessels are off-hire due to unforeseen circumstances. The shipping industry
                uses operating days to measure the aggregate number of days in a period during which vessels actually generate revenues.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zedae801235a146149912c3faef0acc51">

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            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">8)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We calculate fleet utilization as the number of our operating days during a period divided by the number of ownership days plus chartered-in days less drydocking days.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z94a31829220246189c0024953306ee0f">

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            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">9)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define TCE rates as our voyage revenues less voyage expenses, charter hire expenses, and realized gain or losses on fuel hedges, divided by the number of the available days of our owned fleet
                during the period<font style="font-family: 'Times New Roman'; font-weight: bold;">.</font> TCE rate is a common shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily
                earnings generated by vessels on voyage charters, because charterhire rates for vessels on voyage charters are generally not expressed in per-day amounts while charterhire rates for vessels on time charters generally are expressed in such
                amounts. Our estimated TCE for the third quarter of 2022 is based on fixtures booked to date. Actual results may vary based on the actual duration of voyages and other factors. Accordingly, we are unable to provide, without unreasonable
                efforts, a reconciliation of estimated TCE for the third quarter to the most comparable financial measures presented in accordance with GAAP.</div>
            </td>
          </tr>

      </table>
      <div style="text-align: center; margin-left: 36pt; font-size: 10pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" class="cfttable" id="zeae18764fd2d4fe0b32d8b849c42f87a" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"> June 30, 2022</div>
              </td>
              <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended </div>
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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              <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2022</div>
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              <td valign="bottom" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Six Months Ended </div>
                <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">June 30, 2021</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Total Fleet</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="6" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-size: 10pt; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: middle; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman';">(unaudited)</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-align: left; font-family: 'Times New Roman';">Voyage revenues (in thousands)</div>
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              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">$</div>
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              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">137,764</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">$</div>
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              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">121,008</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">$</div>
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              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">273,991</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">$</div>
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              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">208,599</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">
                <div style="text-align: left; font-family: 'Times New Roman';">Voyage expenses (in thousands)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
                <div style="font-family: 'Times New Roman';">32,460</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
                <div style="font-family: 'Times New Roman';">36,702</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
                <div style="font-family: 'Times New Roman';">70,924</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">
                <div style="font-family: 'Times New Roman';">71,775</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-align: left; font-family: 'Times New Roman';">Charter hire expenses (in thousands)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">5,044</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">8,325</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">12,682</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">13,761</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman';">Realized gain on fuel hedges (in thousands)</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">667</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">-</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">1,296</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">-</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">100,927</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">75,981</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">191,681</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">123,063</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; background-color: rgb(204, 238, 255);">
                <div style="text-align: left; font-family: 'Times New Roman';">Total available days for owned fleet</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">3,510</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">3,595</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">7,273</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman';">7,455</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 4px;">
                <div style="text-align: left; font-family: 'Times New Roman';">Total TCE rate</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">$</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">28,756</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">$</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">21,137</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">$</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">26,354</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">$</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman';">16,508</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; font-size: 10pt; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: right; font-size: 10pt; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

        </table>
      </div>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za67d8669962e44809e02e9f50757a689">

          <tr>
            <td style="width: 18pt; font-size: 10pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">10)</td>
            <td style="width: auto; vertical-align: top; text-align: justify; font-size: 10pt;">
              <div style="font-family: 'Times New Roman';">We define daily vessel operating expenses to include crew wages and related costs, the cost of insurance expenses relating to repairs and maintenance (excluding drydocking), the costs of spares and
                consumable stores, tonnage taxes and other miscellaneous expenses. Daily vessel operating expenses are calculated by dividing vessel operating expenses by ownership days for the relevant period.</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">15</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>About Genco Shipping &amp; Trading Limited</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco Shipping &amp; Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a
        full-service logistics solution to our customers utilizing our in-house commercial operating platform, as we transport key cargoes such as iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping
        routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. We make capital
        expenditures from time to time in connection with vessel acquisitions. As of August 2, 2022, Genco Shipping &amp; Trading Limited&#8217;s fleet consists of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately
        4,636,000 dwt and an average age of 10.4 years.</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">16</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The following table reflects Genco&#8217;s fleet list as of August 2, 2022:</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="zca47f65a9e9c453688100ddf4aac82c6">

          <tr>
            <td style="width: 5%; vertical-align: middle; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 35%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Vessel</div>
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            <td style="width: 15%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">DWT</div>
            </td>
            <td style="width: 15%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Year Built</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Capesize</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">1</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Resolute</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;181,060</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Endeavour</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;181,060</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">3</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Liberty</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,387</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2016</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">4</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Defender</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,377</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2016</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">5</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Constantine</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,183</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2008</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">6</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Augustus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,151</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">7</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Lion</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;179,185</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2012</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">8</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Tiger</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;179,185</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2011</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">9</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco London</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;177,833</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">10</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Wolf</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;177,752</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">11</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Titus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;177,729</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">12</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Bear</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;177,717</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">13</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Tiberius</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;175,874</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">14</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Commodus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;169,098</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">15</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Hadrian</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;169,025</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2008</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">16</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Maximus</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;169,025</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">17</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Claudius</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;169,001</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Ultramax</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; text-align: right;">&#160;</td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; text-align: center;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">1</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Freedom</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,671</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Vigilant</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,671</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">3</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Hornet</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,574</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">4</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Enterprise</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,473</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2016</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">5</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Mantis</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,470</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">6</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Scorpion</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,462</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">7</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Magic</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,446</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">8</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Baltic Wasp</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,389</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2015</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">9</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Constellation</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,310</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2017</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">10</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Mayflower</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,304</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2017</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">11</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Madeleine</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,166</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">12</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Weatherly</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;61,556</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2014</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">13</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Mary</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;61,085</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">14</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Laddey</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;61,085</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2022</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">15</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Columbia</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;60,294</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2016</div>
            </td>
          </tr>

      </table>
      <div style="font-size: 10pt;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">17</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" align="center" style="font-family: 'Times New Roman'; font-size: 10pt; width: 70%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z43d99159f8fc405998d8e09dea3af424">

          <tr>
            <td nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left; font-family: 'Times New Roman'; font-weight: bold;">Supramax</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">1</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Hunter</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,729</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2007</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Auvergne</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,020</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">3</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Rhone</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2011</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">4</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Ardennes</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">5</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Brittany</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">6</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Languedoc</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">7</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Pyrenees</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">8</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Bourgogne</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,018</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2010</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">9</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Aquitaine</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;57,981</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2009</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">10</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Warrior</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;55,435</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2005</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">11</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Predator</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;55,407</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); font-size: 10pt; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; font-family: 'Times New Roman';">2005</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">12</div>
            </td>
            <td nowrap="nowrap" style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: left; font-family: 'Times New Roman';">Genco Picardy</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;55,257</div>
            </td>
            <td nowrap="nowrap" style="width: 15%; vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); font-size: 10pt;">
              <div style="text-align: center; font-family: 'Times New Roman';">2005</div>
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      <div style="font-size: 10pt;"><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">18</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Conference Call Announcement</u></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco Shipping &amp; Trading Limited will hold a conference call on Thursday, August 4, 2022 at 8:30 a.m. Eastern Time to discuss its 2022 second quarter financial
        results. The conference call and a presentation will be simultaneously webcast and will be available on the Company&#8217;s website, www.GencoShipping.com. To access the conference call, dial (646) 828-8193 or (888) 220-8451 and enter passcode 7679501. A
        replay of the conference call can also be accessed for two weeks by dialing (888) 203-1112 or (719) 457-0820 and entering the passcode 7679501. The Company intends to place additional materials related to the earnings announcement, including a
        slide presentation, on its website prior to the conference call.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Website Information</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">We intend to use our website, www.GencoShipping.com, as a means of disclosing material non-public information and for complying with our disclosure obligations under
        Regulation FD. Such disclosures will be included in our website&#8217;s Investor Relations section. Accordingly, investors should monitor the Investor Relations portion of our website, in addition to following our press releases, SEC filings, public
        conference calls, and webcasts. To subscribe to our e-mail alert service, please click the &#8220;Receive E-mail Alerts&#8221; link in the Investor Relations section of our website and submit your email address.&#160; The information contained in, or that may be
        accessed through, our website is not incorporated by reference into or a part of this document or any other report or document we file with or furnish to the SEC, and any references to our website are intended to be inactive textual references
        only.</div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;<font style="font-family: 'Times New Roman'; font-weight: bold;">"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995</font></div>
      <div style="font-size: 10pt;">&#160;</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
        forward-looking statements use words such as &#8220;anticipate,&#8221; &#8220;budget,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; and other words and terms of similar meaning in connection with a discussion of potential future events,
        circumstances or future operating or financial performance.&#160; These forward-looking statements are based on our management&#8217;s current expectations and observations. Included among the factors that, in our view, could cause actual results to differ
        materially from the forward looking statements contained in this report are the following: (i) declines or sustained weakness in demand in the drybulk shipping industry; (ii)&#160; weakness or declines in drybulk shipping rates; (iii) changes in the
        supply of or demand for drybulk products, generally or in particular regions; (iv) changes in the supply of drybulk carriers including newbuilding of vessels or lower than anticipated scrapping of older vessels; (v) changes in rules and regulations
        applicable to the cargo industry, including, without limitation, legislation adopted by international organizations or by individual countries and actions taken by regulatory authorities; (vi) increases in costs and expenses including but not
        limited to: crew wages, insurance, provisions, lube oil, bunkers, repairs, maintenance, general and administrative expenses, and management fee expenses; (vii) whether our insurance arrangements are adequate; (viii) changes in general domestic and
        international political conditions; (ix) acts of war, terrorism, or piracy, including without limitation the ongoing war in Ukraine; (x) changes in the condition of the Company&#8217;s vessels or applicable maintenance or regulatory standards (which may
        affect, among other things, our anticipated drydocking or maintenance and repair costs) and unanticipated drydock expenditures; (xi) the Company&#8217;s acquisition or disposition of vessels;</div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(xii) the amount of offhire time needed to complete maintenance, repairs, and installation of equipment to comply with applicable regulations on vessels and the timing
        and amount of any reimbursement by our insurance carriers for insurance claims, including offhire days; (xiii) the completion of definitive documentation with respect to charters; (xiv) charterers&#8217; compliance with the terms of their charters in the
        current market environment; (xv) the extent to which our operating results are affected by weakness in market conditions and freight and charter rates; (xvi) our ability to maintain contracts that are critical to our operation, to obtain and
        maintain acceptable terms with our vendors, customers and service providers and to retain key executives, managers and employees; (xvii) completion of documentation for vessel transactions and the performance of the terms thereof by buyers or
        sellers of vessels and us; (xviii) the relative cost and availability of low sulfur and high sulfur fuel, worldwide compliance with sulfur emissions regulations that took effect on January 1, 2020 and our ability to realize the economic benefits or
        recover the cost of the scrubbers we have installed; (xix) our financial results for the year ending December 31, 2022 and other factors relating to determination of the tax treatment of dividends we have declared; (xx) the financial results we
        achieve for each quarter that apply to the formula under our new dividend policy, including without limitation the actual amounts earned by our vessels and the amounts of various expenses we incur, as a significant decrease in such earnings or a
        significant increase in such expenses may affect our ability to carry out our new value strategy; (xxi) the exercise of the discretion of our Board regarding the declaration of dividends, including without limitation the amount that our Board
        determines to set aside for reserves under our dividend policy; (xxii) the duration and impact of the COVID-19 novel coronavirus epidemic, which may negatively affect general global and regional economic conditions; our ability to charter our
        vessels at all and the rates at which are able to do so; our ability to call on or depart from ports on a timely basis or at all; our ability to crew, maintain, and repair our vessels, including without limitation the impact diversion of our
        vessels to perform crew rotations may have on our revenues, expenses, and ability to consummate vessel sales, expense and disruption to our operations that may arise from the inability to rotate crews on schedule, and delay and added expense we may
        incur in rotating crews in the current environment; our ability to staff and maintain our headquarters and administrative operations; sources of cash and liquidity; our ability to sell vessels in the secondary market, including without limitation
        the compliance of purchasers and us with the terms of vessel sale contracts, and the prices at which vessels are sold; and other factors relevant to our business described from time to time in our filings with the Securities and Exchange
        Commission; and (xxiii) other factors listed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent reports on
        Form 8-K and Form 10-Q. Our ability to pay dividends in any period will depend upon various factors, including the limitations under any credit agreements to which we may be a party, applicable provisions of Marshall Islands law and the final
        determination by the Board of Directors each quarter after its review of our financial performance, market developments, and the best interests of the Company and its shareholders. The timing and amount of dividends, if any, could also be affected
        by factors affecting cash flows, results of operations, required capital expenditures, or reserves.&#160; As a result, the amount of dividends actually paid may vary.&#160; We do not undertake any obligation to update or revise any forward-looking
        statements, whether as a result of new information, future events or otherwise.</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CONTACT:</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Apostolos Zafolias</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Genco Shipping &amp; Trading Limited</div>
      <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">(646) 443-8550</div>
      <div style="font-size: 10pt;"><br>
      </div>
      <div>
        <div style="text-align: center;"><br>
          <font id="DSPFPageNumber" style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);">21</font></div>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:title="label: DocumentFiscalPeriodFocus to dei_DocumentFiscalPeriodFocus_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" id="dei_DocumentPeriodEndDate_lbl">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:title="label: DocumentPeriodEndDate to dei_DocumentPeriodEndDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="dei_EntityRegistrantName_lbl">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:title="label: EntityRegistrantName to dei_EntityRegistrantName_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:title="label: EntityCentralIndexKey to dei_EntityCentralIndexKey_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:label="EntityFileNumber" xlink:title="EntityFileNumber" />
    <link:label xlink:type="resource" xlink:label="dei_EntityFileNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFileNumber_lbl" xml:lang="en-US" id="dei_EntityFileNumber_lbl">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:title="label: EntityFileNumber to dei_EntityFileNumber_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:label="EntityTaxIdentificationNumber" xlink:title="EntityTaxIdentificationNumber" />
    <link:label xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US" id="dei_EntityTaxIdentificationNumber_lbl">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:title="label: EntityTaxIdentificationNumber to dei_EntityTaxIdentificationNumber_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US" id="dei_EntityIncorporationStateCountryCode_lbl">Entity Incorporation, State or Country Code</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
    <link:label xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" id="dei_EntityEmergingGrowthCompany_lbl">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:title="label: EntityEmergingGrowthCompany to dei_EntityEmergingGrowthCompany_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine1_lbl">Entity Address, Address Line One</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine2" xlink:label="EntityAddressAddressLine2" xlink:title="EntityAddressAddressLine2" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine2_lbl">Entity Address, Address Line Two</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine3" xlink:label="EntityAddressAddressLine3" xlink:title="EntityAddressAddressLine3" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber_lbl" xml:lang="en-US" id="dei_LocalPhoneNumber_lbl">Local Phone Number</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_NoTradingSymbolFlag" xlink:label="NoTradingSymbolFlag" xlink:title="NoTradingSymbolFlag" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>gnk-20220803_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.22.2</span><table class="report" border="0" cellspacing="2" id="idm139881983671264">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Aug. 03, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug.  03,  2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-33393<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">GENCO SHIPPING & TRADING LIMITED<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001326200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">1T<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0439758<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">299 Park Avenue<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">12th Floor<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York,<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10171<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">646<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">443-8550<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common stock, par value $0.01 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">GNK<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
