Genco Shipping & Trading Limited Establishes Singa

NEW YORK, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK ) announced today the opening of a new office in Singapore and the appointment of Ivo Kempenaer as Vice President and Commercial Director, Head of Major Bulks.

Mr. Kempenaer has over 30 years of chartering experience working for both ship owners and commodity charterers, with a focus on major bulk commodities such as iron ore and coal. Prior to joining Genco, Mr. Kempenaer was a senior broker on the Capesize desk of Simpson Spence Young Pte Ltd, developing new chartering business. Previously, he served as General Manager, Pacific Chartering for EDF Trading Singapore Pte Ltd, where he was responsible for expanding worldwide Capesize trading activities. Mr. Kempenaer also served as the Head of the Capesize Department at BHP Billiton.

John C. Wobensmith, Chief Executive Officer, commented, “Genco continues to take important steps to optimize our commercial strategy and enable the Company to more fully capitalize on its leading and sizeable operating platform. We are excited to establish a Singapore presence and grow our footprint globally, supporting our efforts to offer a full-scale logistics solution and strengthen relationships with leading iron ore producers and charterers worldwide. We are very pleased to have such an accomplished industry veteran like Ivo to spearhead the employment of our major bulk fleet and further position Genco to benefit from a market recovery.”

Ivo Kempenaer commented, “I am excited to join Genco and help to grow the major bulk component of its commercial platform. Genco is a proven industry leader, and I look forward to contributing to the company’s long-term success.”

About Genco Shipping & Trading Limited Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. As of October 17, 2017, Genco Shipping & Trading Limited’s fleet consists of 13 Capesize, six Panamax, four Ultramax, 21 Supramax, one Handymax and 15 Handysize vessels with an aggregate capacity of approximately 4,688,000 dwt.

CONTACT: John C. Wobensmith Chief Executive Officer Genco Shipping & Trading Limited (646) 443-8550