Genco Shipping & Trading

GNK

Market cap $1.1B

NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company's results for the second quarter of 2026 on Thursday, August 6, 2026 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the second quarter ended June 30, 2026 on Wednesday, August 5, 2026 after the close of market trading.

Diana Still Has Not Updated Its Tender Offer Materials to Align Terms with Indicative, Non-Binding Proposal NEW YORK, July 13, 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 issued the following statement regarding the extension by Diana Shipping Inc. (“Diana”) of its inadequate tender offer to acquire all outstanding common shares of Genco not already owned by Diana for $24.80 per share in cash: Diana has once again extended its inadequate tender offer for $24.80 per share in cash. Our Board of Directors previously reviewed and unanimously rejected this offer, determining that it continued to meaningfully undervalue the Company and its assets, remained well below Genco's net asset value (NAV) and did not include any control premium.

Tender Offer is For Only $24.80 Per Share in Cash Cautions Shareholders Not to Tender into $24.80 Per Share Tender Offer NEW YORK, July 08, 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 issued the following statement regarding the pending tender offer by Diana Shipping Inc. (“Diana”): We are dismayed by Diana's continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana's tender offer. To set the record straight, Diana has taken two separate and fully distinct actions: A tender offer for only $24.80 per share in cash.

Diana's $24.80 Tender Offer Continues to Undervalue Genco and its Assets and Fails to Provide a Control Premium NEW YORK, June 29, 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 issued the following statement regarding Diana Shipping Inc.'s (“Diana”) extension of its inadequate tender offer to acquire all outstanding common shares of Genco not already owned by Diana for $24.80 per share in cash: Diana's press release this morning represents yet more gamesmanship and an attempt to confuse Genco shareholders. The press release touts a cash and stock offer, but the tender offer Diana is extending is only for $24.80 per share in cash.

Genco Shipping presents a rare, asymmetric opportunity as activist Diana Shipping escalates pressure for control following a failed but consequential June 18 board vote. GNK trades at a steep forward EV/EBITDA discount of 6.4x, 47% below sector median, with ultra-low debt providing a robust safety floor for patient investors. Diana lost the June 18 vote but raised its offer to $27.34 per share beforehand and kept pressuring the board afterward, signaling urgency rather than retreat.

Results Reflect Strong Support for Genco Board of Directors and Ongoing Execution of Genco's Comprehensive Value Strategy

Genco's Annual Meeting to Convene as Scheduled on June 18, 2026 NEW YORK, June 17, 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 issued the following statement regarding the revised unsolicited, indicative non-binding proposal from Diana Shipping Inc. (“Diana”): The Genco Board is committed to maximizing shareholder value and will carefully review the revised proposal from Diana, in consultation with its financial and legal advisors. The Board will continue taking the course of action that is in the best interests of Genco and all of its shareholders.

The Deadline to Vote is Today at 11:59 PM ET Genco Urges Shareholders to Follow Recommendations of All Three Proxy Advisory Firms — ISS, Glass Lewis and Egan-Jones — to Vote FOR Genco's Highly Qualified Director Nominees Voting Information is Available at www.GencoDrivesSuperiorReturns.com NEW YORK, June 17, 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 reminds shareholders to protect their Genco investments and get their votes in on the WHITE proxy card ahead of the 11:59 PM ET voting deadline. Genco also issued the following statement: The deadline to get your vote counted is tonight, so this is your last chance to take action and vote before it is too late.

Leading Proxy Advisory Firms – ISS, Glass Lewis and Egan-Jones – All Support Reelection of Genco's Full Board, Who Continue to Deliver Superior Shareholder Value in a Strengthening Drybulk Market

Additional Information Available at www.GencoDrivesSuperiorReturns.com NEW YORK, June 11, 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 announced that its Board of Directors made the following commitments with respect to Genco's Shareholders Rights Agreement (the “Rights Agreement”), which was entered into in 2025 following the rapid accumulation of Genco's stock by Diana Shipping Inc. (“Diana”): The Board will regularly review the Rights Agreement and consider whether the facts and circumstances at the time merit maintaining or terminating the Rights Agreement. Any extension of the Rights Agreement following shareholder approval will not extend the Rights Agreement for more than 12 months beyond its term, which is a shorter period than the three years proposed by the resolution that is up for vote at the Annual Meeting.