At Genco Shipping & Trading Limited our Chairman and board of directors have substantial experience in the shipping industry.

Our management team is based in New York City and includes several executives with extensive experience in the shipping industry who have demonstrated substantial ability in managing the commercial, technical and financial aspects of our business.

We believe that we possess a number of strengths that provide us with a competitive advantage in the drybulk shipping industry.

We own a modern, high-quality fleet of drybulk carriers. Excluding vessels of Baltic Trading Limited we have a modern fleet consisting of vessels with an average age of 8 years as of January 2013, compared to the average age of approximately 10 years for the world fleet. We believe that owning a modern, high-quality fleet: reduces operating costs and fuel consumption; allows us to secure favorable financing terms by enabling lenders to feel secure with their collateral; makes our fleet more reliable by reducing the likelihood of breakdowns and off-hire; provides us with a competitive advantage in securing favorable time charters from charterers who prefer vessels that have greater fuel efficiency than older vessels and can serve with fewer interruptions due to breakdowns.

Our fleet includes ten groups of sister ships. Sister ships can use similar spare parts, and their crews are interchangeable. We believe that maintaining a fleet that includes sister ships increases our revenue generating potential by improving our operational and scheduling flexibility and reduces costs by creating economies of scale in the maintenance, supply and crewing of our vessels. We also believe that having sister ships makes our fleet more attractive to time charterers because they can interchange cargoes among the sister ships.

We benefit from strong relationships with members of the shipping and financial industries. We have developed strong relationships with major international charterers, shipbuilders and financial institutions that we believe are the direct result of the quality and experience of our management team. In addition, we have developed a strong relationship with Wallem, an international vessel management company with over 35 years of experience that currently manages over 200 vessels while meeting strict quality control standards. We currently contract with Wallem for the technical management of the vessels in our fleet. We believe that these relationships will lead to greater charter opportunities for our vessels.

We maintain commercial management of our fleet in-house, thereby benefiting from the substantial experience of our management team in the shipping industry while avoiding brokerage commissions to related parties. It also serves to prevent conflicts of interest because, unlike transactions involving brokers, our employees do not have a personal financial interest in the charter contracts.