Genco Shipping & Trading has agreed to acquire two 2020-built 208,000 dwt Newcastlemax bulk carriers fitted with scrubbers for a total purchase price of $145.5 million.
The company expects to take delivery of the vessels during the first quarter of 2026.
The acquisition will be funded through cash on hand and a drawdown from Genco’s revolving credit facility.
Chief Executive Officer John C. Wobensmith said the deal supports the company’s strategy of investing in modern, fuel-efficient tonnage. He said Genco’s total investment in Capesize and Newcastlemax vessels has now reached $343 million over the past two years.
“With no special survey required until 2030 for these two latest vessels, we expect to maximise utilisation during a period of compelling market fundamentals,” Wobensmith said.
Pro forma for the transaction, Genco’s fleet will consist of 45 vessels with an average age of 12.5 years and total capacity of about 5.05 million dwt.
