The latest update is out from Genco Shipping ( (GNK) ).
Genco Shipping provided an update on its estimated time charter equivalent (TCE) rate for the first quarter of 2025, estimating it to be approximately $11,700 per day for about 95% of its owned available days. The company noted that freight rates, particularly for Capesize vessels, have increased significantly in March 2025, benefiting their operations as most of their fleet trades in the spot market. Some revenue from first-quarter fixtures will be recognized in the second quarter due to accounting practices, and daily vessel operating expenses are estimated at $6,500 per vessel per day.
More about Genco Shipping
YTD Price Performance: 2.13%
Average Trading Volume: 583,865
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $604.2M
See more insights into GNK stock on TipRanks’ Stock Analysis page.