Genco Shipping & Trading Limited Appoints Commercial Director, Minor Bulk, Europe

NEW YORK, April 02, 2018 -- Genco Shipping & Trading Limited (NYSE:GNK) announced today the establishment of a European subsidiary in Copenhagen, Denmark and the appointment of Sune Linné Fladberg as Commercial Director, Minor Bulk, Europe.

Mr. Fladberg brings extensive minor bulk chartering experience managing Ultramax, Supramax, and Handysize vessels. Prior to joining Genco, Mr. Fladberg had been at Clipper Group since 2007, holding various chartering and management positions, including serving as the general manager for the chartering team in Copenhagen. Most recently he was Vice President and part of Clipper Group’s global bulk management team and head of worldwide Handysize chartering.

John C. Wobensmith, Chief Executive Officer, commented, “We continue to take steps to solidify our sizeable and leading drybulk platform and further enhance our ability to provide a full-scale logistics solution to leading charterers and cargo providers on a 24 hour basis. We are pleased to have established a European subsidiary in Denmark and have Sune join our in-house commercial team, complementing our group of seasoned chartering professionals in New York and Singapore, and further strengthening our position in our key trading markets. The ongoing success we have had incorporating voyage charters and direct cargo liftings to our global major and minor bulk operation position us well to continue to take advantage of a market recovery.”

“I am thrilled to be joining Genco during an exciting time, as the Company expands its presence worldwide,” said Mr. Fladberg. “Genco is an industry leader with an enhanced commercial platform, and I look forward to contributing to the Company’s success as it seeks to further capitalize on strong and improving drybulk fundamentals.”

About Genco Shipping & Trading Limited

Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. As of April 2, 2018, Genco Shipping & Trading Limited’s fleet consists of 13 Capesize, six Panamax, four Ultramax, 21 Supramax, one Handymax and 15 Handysize vessels with an aggregate capacity of approximately 4,688,000 dwt.

CONTACT:
Apostolos Zafolias
Chief Financial Officer
Genco Shipping & Trading Limited
(646) 443-8550