<SEC-DOCUMENT>0001140361-24-021068.txt : 20240422
<SEC-HEADER>0001140361-24-021068.hdr.sgml : 20240422
<ACCEPTANCE-DATETIME>20240422170800
ACCESSION NUMBER:		0001140361-24-021068
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240422
DATE AS OF CHANGE:		20240422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCO SHIPPING & TRADING LTD
		CENTRAL INDEX KEY:			0001326200
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33393
		FILM NUMBER:		24861947

	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>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>ny20027239x2_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Soultions, Inc.
         Document created using Broadridge PROfile 24.3.1.5224
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center"><font style="font-size: 14pt;">UNITED STATES</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold; text-align: center;">SCHEDULE 14A</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Rule 14a-101)</div>
    <div><br>
    </div>
    <div style="text-align: center;">INFORMATION REQUIRED IN PROXY STATEMENT</div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE 14A INFORMATION</div>
    <div><br>
    </div>
    <div style="text-align: center;">Proxy Statement pursuant to Section 14(a) of the</div>
    <div style="text-align: center;">Securities Exchange Act of 1934</div>
    <div> <br>
    </div>
    <div>Filed by the Registrant&#160; &#9746;</div>
    <div>Filed by a Party other than the Registrant&#160; &#9744;</div>
    <div><br>
    </div>
    <div>Check the appropriate box:</div>
    <div><br>
    </div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Preliminary Proxy Statement</font></div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Definitive Proxy Statement</font></div>
    <div>&#9746;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Definitive Additional Materials</font></div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Soliciting Material under &#167; 240.14a-12</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">GENCO SHIPPING &amp; TRADING LIMITED</div>
    <div style="text-align: center;">(Name of Registrant as Specified in Its Charter)</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <hr style="height: 1pt; width: 40%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    <div style="text-align: center;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>
    <div><br>
    </div>
    <div>Payment of Filing Fee (Check the appropriate box):</div>
    <div><br>
    </div>
    <div>&#9746;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">No fee required</font></div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Fee paid previously with preliminary materials.</font></div>
    <div>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</font></div>
    <div>
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div style="font-weight: bold;"><font style="font-style: italic;">On April 22, 2024, </font>TradeWinds <font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">published an article entitled &#8220;John Wobensmith reflects on &#8216;fight
        letters&#8217; with George Economou and fending off Houthi attacks in the Red Sea&#8221; that included the quote from Mr. Wobensmith below.</font><font style="font-style: italic;"> The article contains excerpts from an interview Mr. Wobensmith
        gave at the 2024 TradeWinds Shipowners
        Forum in New York City that covered a wide variety of topics from Genco-specific matters to broader market trends. </font><font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">Genco Shipping &amp; Trading Limited may in the
        future use the same or substantially similar materials from time to time:</font></div>
    <div style="font-weight: bold;"><font style="font-family: 'Times New Roman',Times,serif; font-style: italic;"> <br>
      </font></div>
    <div>You have a significant investor, George Economou, who now holds a 5.4% stake and is engaged in a highly visible proxy battle. What are your thoughts on this development?</div>
    <div><br>
    </div>
    <div>Look, we obviously put out what our advisors called a fight letter &#8230; which was put out to really rebut the bogus information that was in his proxy statement. So I think that that letter speaks for itself.</div>
    <div><br>
    </div>
    <div>I look at our board. I think it&#8217;s a very well-functioning board. It is a diverse board. It has a lot of expertise on it. Capital allocation, commercial, technical &#8212; it&#8217;s very well-rounded. So it&#8217;s very tough for us to figure out what he really
      brings to the table at this point.</div>
    <div><br>
    </div>
    <div>We have this strategy currently that that&#8217;s in place that is working well. And quite frankly, I know from an industry standpoint, it&#8217;s a great theatre ticket to have, right?</div>
    <div><br>
    </div>
    <div>But the reality is when we talk to shareholders, very, very rarely do we get any questions about George Economou and the proxy side of it. We get more questions about, tell me about your value strategy, tell me about the market, tell me about you
      taking your leverage down and congratulations on such a low break-even rate.</div>
    <div><br>
    </div>
    <div>That&#8217;s what the conversations are more focused on than anything else.</div>
    <div> <br>
    </div>
    <div style="text-align: center;"><font style="font-weight: bold;">*</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-weight: bold;">*</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*</font></div>
    <div><br>
    </div>
    <div>Permission to use the above quote was neither sought nor obtained.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">&#8220;Safe Harbor&#8221; Statement under the Private Securities Litigation Reform Act of 1995</div>
    <div><br>
    </div>
    <div>These materials contain certain forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as &#8220;expect,&#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. These forward-looking statements are based on management&#8217;s current expectations and
      observations. For a discussion of factors that could cause results to differ, please see the Company&#8217;s filings with the Securities and Exchange Commission, including, without limitation, the Company&#8217;s Annual Report on form 10-K for the year ended
      December 31, 2023, and the Company&#8217;s reports on Form 10-Q and Form 8-K subsequently filed with the SEC. 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><br>
    </div>
    <div style="font-weight: bold;">Additional Information and Where to Find It</div>
    <div><br>
    </div>
    <div>
      <div>On April 16, 2024, Genco filed with the SEC a definitive proxy statement on Schedule 14A (the &#8220;Definitive Proxy Statement&#8221;), containing a form of WHITE proxy card, with respect to its solicitation of proxies for Genco&#8217;s 2024 Annual Meeting of
        Shareholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY GENCO AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY
        CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by Genco free of charge through the website maintained by the SEC
        at&#160;www.sec.gov. Copies of the documents filed by Genco are also available free of charge by accessing Genco&#8217;s website at www.gencoshipping.com.</div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Participants</div>
      <div>&#160;</div>
      <div>Genco, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2024 Annual Meeting of Shareholders, including John C. Wobensmith (Chief Executive Officer and
        President), Peter Allen (Chief Financial Officer), Joseph Adamo (Chief Accounting Officer), Jesper Christensen (Chief Commercial Officer), and Genco&#8217;s directors other than Mr. Wobensmith, namely James G. Dolphin, Paramita Das, Kathleen C. Haines,
        Basil G. Mavroleon, Karin Y. Orsel, and Arthur L. Regan. Investors and security holders may obtain more detailed information regarding the Company&#8217;s directors and executive officers, including a description of their direct or indirect interests, by
        security holdings or otherwise, under the captions &#8220;Management,&#8221; &#8220;Executive Compensation,&#8221; and &#8220;Security Ownership of Certain Beneficial Owners and Management&#8221; in Genco&#8217;s Definitive Proxy Statement. To the extent holdings of such participants in
        Genco&#8217;s securities changed since the amounts described in the Definitive Proxy Statement, such changes will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC.
        These documents are available free of charge as described above.</div>
    </div>
    <div><br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
