GNK - Genco Shipping Trading Limited New Stock Trading

NEW YORK, Oct. 06, 2020 (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 third quarter of 2020 on Thursday, November 5, 2020 at 8:00 a.m. Eastern Time. The conference call...

Adjusted 2Q2020 EBITDA of $3.3 million was below our estimate of $6.3 million, mainly due to lower than expected TCE rates of $6.7k/day, or ~$900 below our estimate. In contrast to 1Q2020, operating results were not insulated from weak market conditions with forward cover of 62% of 2Q2020 days b...

It's a good day for the shipping sector, with stronger-than-expected earnings reports and analyst upgrades fueling strong gains for transportation stocks . Shares of U.S. Xpress Enterprises (NYSE: USX) were up 23% as of 1 p.m. EDT, while C.H. Robinson Worldwide (NASDAQ: CHRW) and Genc...