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GENERAL INFORMATION | 12 Months Ended
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Dec. 31, 2022
GENERAL INFORMATION |
GENERAL INFORMATION | 1 – GENERAL INFORMATION ​ The accompanying consolidated financial statements include the accounts of Genco Shipping & Trading Limited (“GS&T”) and its direct and indirect subsidiaries (collectively, the “Company”). The Company is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. GS&T is incorporated under the laws of the Marshall Islands and as of December 31, 2022, is the direct or indirect owner of all of the outstanding shares or limited liability company interests of the following subsidiaries: Genco Ship Management LLC; Genco Investments LLC; Genco Shipping Pte. Ltd.; Genco Shipping A/S; Baltic Trading Limited (“Baltic Trading”); and the ship-owning subsidiaries as set forth below under “Other General Information.” ​ During September 2021, the Company and Synergy Marine Pte. Ltd. (“Synergy”), a third party, formed a joint venture, GS Shipmanagement Pte. Ltd. (“GSSM”). GSSM is owned 50% by the Company and 50% by Synergy as of December 31, 2022 and 2021, and was formed to provide ship management services to the Company’s vessels. As of December 31, 2022 and 2021, the cumulative investments GSSM received from the Company and Synergy totaled $50 and $50, respectively, which were used for expenditures directly related to the operations of GSSM. ​ Management has determined that GSSM qualifies as a variable interest entity, and, when aggregating the variable interest held by the Company and Synergy, the Company is the primary beneficiary as the Company has the ability to direct the activities that most significantly impact GSSM’s economic performance. Accordingly, the Company consolidates GSSM. ​ In March 2020, the World Health Organization declared the outbreak of a novel coronavirus strain, or COVID-19, to be a pandemic. The COVID-19 pandemic is having widespread, rapidly evolving, and unpredictable impacts on global society, economies, financial markets, and business practices. Over the course of the pandemic, governments have implemented measures in an effort to contain the virus, including social distancing, travel restrictions, border closures, limitations on public gatherings, working from home, supply chain logistical changes, and closure of non-essential businesses. This led to a significant slowdown in overall economic activity levels globally and a decline in demand for certain of the raw materials that our vessels transport. ​ At present, it is not possible to ascertain any future impact of COVID-19 on the Company’s operational and financial performance. However, the extent to which the COVID-19 pandemic impacts our business going forward will depend on numerous evolving factors the Company cannot reliably predict, including the duration and scope of the pandemic; governmental, business, and individuals’ actions in response to the pandemic; and the impact on economic activity. This could have a material adverse effect on the Company’s business, results of operations, cash flows, financial condition, the carrying value of the Company’s assets, the fair values of the Company’s vessels, and the Company’s ability to pay dividends. ​ Other General Information ​ As of December 31, 2022, 2021 and 2020, the Company’s fleet consisted of 44, 42 and 47 vessels, respectively. ​ Below is the list of Company’s wholly owned ship-owning subsidiaries as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Wholly Owned Subsidiaries |  | Vessel Acquired |  | Dwt |  | Delivery Date |  | Year Built |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Genco Augustus Limited |  | Genco Augustus |  | 180,151 |  | 8/17/07 |  | 2007 | ​
Genco Tiberius Limited |  | Genco Tiberius |  | 175,874 |  | 8/28/07 |  | 2007 | ​
Genco London Limited |  | Genco London |  | 177,833 |  | 9/28/07 |  | 2007 | ​
Genco Titus Limited |  | Genco Titus |  | 177,729 |  | 11/15/07 |  | 2007 | ​
Genco Warrior Limited |  | Genco Warrior |  | 55,435 |  | 12/17/07 |  | 2005 | ​
Genco Predator Limited |  | Genco Predator |  | 55,407 |  | 12/20/07 |  | 2005 | ​
Genco Hunter Limited |  | Genco Hunter |  | 58,729 |  | 12/20/07 |  | 2007 | ​
Genco Constantine Limited |  | Genco Constantine |  | 180,183 |  | 2/21/08 |  | 2008 | ​
Genco Hadrian Limited |  | Genco Hadrian |  | 169,025 |  | 12/29/08 |  | 2008 | ​
Genco Commodus Limited |  | Genco Commodus |  | 169,098 |  | 7/22/09 |  | 2009 | ​
Genco Maximus Limited |  | Genco Maximus |  | 169,025 |  | 9/18/09 |  | 2009 | ​
Genco Claudius Limited |  | Genco Claudius |  | 169,001 |  | 12/30/09 |  | 2010 | ​
Genco Aquitaine Limited |  | Genco Aquitaine |  | 57,981 |  | 8/18/10 |  | 2009 | ​
Genco Ardennes Limited |  | Genco Ardennes |  | 58,018 |  | 8/31/10 |  | 2009 | ​
Genco Auvergne Limited |  | Genco Auvergne |  | 58,020 |  | 8/16/10 |  | 2009 | ​
Genco Bourgogne Limited |  | Genco Bourgogne |  | 58,018 |  | 8/24/10 |  | 2010 | ​
Genco Brittany Limited |  | Genco Brittany |  | 58,018 |  | 9/23/10 |  | 2010 | ​
Genco Languedoc Limited |  | Genco Languedoc |  | 58,018 |  | 9/29/10 |  | 2010 | ​
Genco Picardy Limited |  | Genco Picardy |  | 55,257 |  | 8/16/10 |  | 2005 | ​
Genco Pyrenees Limited |  | Genco Pyrenees |  | 58,018 |  | 8/10/10 |  | 2010 | ​
Genco Rhone Limited |  | Genco Rhone |  | 58,018 |  | 3/29/11 |  | 2011 | ​
Genco Weatherly Limited | ​ | Genco Weatherly | ​ | 61,556 | ​ | 7/26/18 | ​ | 2014 | ​
Genco Columbia Limited | ​ | Genco Columbia | ​ | 60,294 | ​ | 9/10/18 | ​ | 2016 | ​
Genco Endeavour Limited | ​ | Genco Endeavour | ​ | 181,060 | ​ | 8/15/18 | ​ | 2015 | ​
Genco Resolute Limited | ​ | Genco Resolute | ​ | 181,060 | ​ | 8/14/18 | ​ | 2015 | ​
Genco Defender Limited | ​ | Genco Defender | ​ | 180,021 | ​ | 9/6/18 | ​ | 2016 | ​
Genco Liberty Limited | ​ | Genco Liberty | ​ | 180,032 | ​ | 9/11/18 | ​ | 2016 | ​
Genco Magic Limited | ​ | Genco Magic | ​ | 63,446 | ​ | 12/23/20 | ​ | 2014 | ​
Genco Vigilant Limited | ​ | Genco Vigilant | ​ | 63,498 | ​ | 1/28/21 | ​ | 2015 | ​
Genco Freedom Limited | ​ | Genco Freedom | ​ | 63,671 | ​ | 2/2/21 | ​ | 2015 | ​
Genco Enterprise Limited | ​ | Genco Enterprise | ​ | 63,473 | ​ | 8/23/21 | ​ | 2016 | ​
Genco Madeleine Limited | ​ | Genco Madeleine | ​ | 63,166 | ​ | 8/23/21 | ​ | 2014 | ​
Genco Mayflower Limited | ​ | Genco Mayflower | ​ | 63,304 | ​ | 8/24/21 | ​ | 2017 | ​
Genco Constellation Limited | ​ | Genco Constellation | ​ | 63,310 | ​ | 9/3/21 | ​ | 2017 | ​
Genco Laddey Limited | ​ | Genco Laddey | ​ | 61,303 | ​ | 1/6/22 | ​ | 2022 | ​
Genco Mary Limited | ​ | Genco Mary | ​ | 61,304 | ​ | 1/6/22 | ​ | 2022 | ​
Baltic Lion Limited | ​ | Genco Lion | ​ | 179,185 | ​ | 4/8/15 | (1) | 2012 | ​
Baltic Tiger Limited | ​ | Genco Tiger | ​ | 179,185 | ​ | 4/8/15 | (1) | 2011 | ​
Baltic Bear Limited |  | Baltic Bear |  | 177,717 |  | 5/14/10 | ​ | 2010 | ​
Baltic Wolf Limited |  | Baltic Wolf |  | 177,752 |  | 10/14/10 | ​ | 2010 | ​
Baltic Hornet Limited |  | Baltic Hornet |  | 63,574 |  | 10/29/14 | ​ | 2014 | ​
Baltic Wasp Limited |  | Baltic Wasp |  | 63,389 |  | 1/2/2015 | ​ | 2015 | ​
Baltic Scorpion Limited |  | Baltic Scorpion |  | 63,462 |  | 8/6/15 | ​ | 2015 | ​
Baltic Mantis Limited |  | Baltic Mantis |  | 63,470 |  | 10/9/15 | ​ | 2015 | ​
​
(1) | The delivery date for these vessels represents the date that the vessel was purchased from Baltic Trading.

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