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GENERAL INFORMATION

12 Months Ended

Dec. 31, 2023

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, 2023, 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, 2023 and 2022, and was formed to provide ship management services to the Company’s vessels. As of December 31, 2023 and 2022, 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.

Other General Information

As of December 31, 2023, 2022 and 2021, the Company’s fleet consisted of 46, 44 and 42 vessels, respectively.

Below is the list of Company’s wholly owned ship-owning subsidiaries as of December 31, 2023:


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		58,014		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		58,014		9/23/10		2010
Genco Languedoc Limited		Genco Languedoc		58,018		9/29/10		2010
Genco Picardy Limited		Genco Picardy		55,255		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		181,057		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		63,443		12/23/20		2014
Genco Vigilant Limited		Genco Vigilant		63,498		1/28/21		2015
Genco Freedom Limited		Genco Freedom		63,667		2/2/21		2015
Genco Enterprise Limited		Genco Enterprise		63,472		8/23/21		2016
Genco Madeleine Limited		Genco Madeleine		63,163		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
Genco Reliance Limited		Genco Reliance		181,146		11/21/23		2016
Genco Ranger Limited		Genco Ranger		180,882		11/27/23		2016
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		63,467		10/9/15		2015

(1)	The delivery date for these vessels represents the date that the vessel was purchased from Baltic Trading.