Genco Shipping & Trading

GNK

Market cap $1.05B

NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today confirmed that Diana Shipping, Inc. (NYSE: DSX) has announced a revised tender offer to acquire all outstanding common shares of Genco not already owned by Diana at a price of $24.80 per share in cash. Genco's Board of Directors, in consultation with its financial and legal advisors, will carefully review and evaluate the revised tender offer to determine the course of action that it believes is in the best interests of the Company and all shareholders, consistent with the Board's fiduciary duties.

Diana Continues to Spread Misinformation to Shareholders in Pursuit of Its Agenda to Take Control of Genco on the Cheap

Highlights Genco's Proven Comprehensive Value Strategy Delivering Superior Returns and Significant Momentum Underway to Capture Upside

Diana Shows its Hand Through Recent Stock Sales Underscoring Its Lack of Commitment to Creating Value for Genco Shareholders

Expresses Confidence in Strength of Business, Momentum Underway and Ability to Continue Generating Superior Returns and Shareholder Value

Offer Price is Unchanged from Prior Inadequate Proposal – Continues to Undervalue Genco's Assets and Business, Fails to Provide Control Premium

Urges Shareholders to Vote “FOR” Genco's Highly Qualified Board on the WHITE Proxy Card – and “WITHHOLD” on Diana's Nominees

Genco Shipping & Trading NYSE: GNK reported stronger first-quarter results and said improving dry bulk freight markets, recent fleet additions and low financial leverage are supporting higher dividend expectations for the remainder of 2026.

Genco Shipping & Trading Limited (GNK) Q1 2026 Earnings Call Transcript

NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, issued the following statement: