Delivering Best-in-Class Drybulk Shipping Services
Genco Shipping & Trading Limited is a U.S.-based drybulk shipowner focused on the seaborne transportation of commodities globally. Headquartered in New York City, with offices in Singapore and Copenhagen, Genco Shipping runs a truly global 24-hour operation offering a full-service logistics platform to our customers around the world. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize and the medium-sized Ultramax and Supramax vessels, enabling us to carry a wide range of cargoes, including iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities, along worldwide shipping routes.
Since our inception in 2004, Genco has developed a leading reputation as an owner of high-quality, modern tonnage that meets strict operational, safety, and environmental standards. Our unrelenting focus on achieving the highest industry standards has enabled us to earn the trust of leading multinational charterers.
Genco’s sizeable and leading drybulk platform, which consists of 44 drybulk carriers and a team of experienced and dedicated onshore and seaborne professionals, is instrumental in our ability to serve as an essential link in international trade. Consistent with our focus on meeting the exacting needs of customers, we draw upon our considerable internal commercial management to provide a full service logistics solution and through our joint venture, GS Shipmanagement Pte. Ltd., with The Synergy Group (“Synergy”) for the technical management of our fleet, which aims to unlock further value for shareholders through its differentiated approach to ship management.
Engaging in Responsible Business Policies
Integrity permeates all aspects of our business ranging from interactions with customers, employees, banks, and shareholders to the transparency of our financial reporting. Our success building an organization concentrated on achieving the highest level of integrity has translated into measurable results. We intend to continue to focus on this important value, along with our commitment to operational excellence, as we seek to further our industry leadership.
Genco maintains memberships and certifications from a number of organizations including MACN (Maritime Anti-Corruption Network) and TRACE, the world’s leading anti-bribery standard setting organization. TRACE helps companies conduct business ethically and in compliance with the U.S. Foreign Corrupt Practices Act, U.K. Bribery Act, and other anti-bribery legislation. TRACE certification signifies that we have completed internationally accepted, due diligence procedures and are recognized as a “pre-vetted” partner for multinational companies seeking to do business with suppliers, agents, and consultants who share their commitment to commercial transparency.
Investing in Sustainability
Given the importance of Environmental, Social and Governance (ESG) factors to management and Genco’s diverse stakeholders, near and long-term ESG objectives are increasingly reflected in our strategic decision-making process. We continue to invest in our fleet through the purchase of modern, fuel-efficient vessels while divesting older, less fuel-efficient tonnage with a key goal of reducing emissions and are committed to meeting or exceeding the IMO’s greenhouse gas emissions reduction targets.
In 2021, we signed the Call to Action for Shipping Decarbonization alongside over 160 industry leaders across the maritime value chain. Genco is committed to working collaboratively to ensure zero emission technologies to be developed are safe and reliable in the future with a focus on developing global bunkering infrastructure that enables commercial viability for alternative fuels. Furthermore, in 2021, we joined a working group with other key stakeholders in the maritime supply chain to study ammonia as an alternative fuel.
From a human capital perspective, attracting and retaining world-class professionals across our three global offices in New York, Singapore, and Copenhagen also remains a top priority for Genco. We employ a team that is both gender and culturally diverse.
Maintaining a high level of transparency and stringent corporate government standards are fundamental components of Genco’s organization. We are a transparent, U.S. filer with no related party transactions.