Wednesday, November 3, 2010

Genco Shipping & Trading Limited - Earnings Estimate For 2010 Q3

For the quarter ended September 30th 2010, we forecast that Genco Shipping & Trading (NYSE: GNK) generated basic earnings per common share of $1.04 on consolidated net income of $35,300,000. Its net TCE revenues for the quarter on a consolidated basis were approximately $113,000,000.

As of September 30th 2010, the company’s total debt on a fully consolidated basis stood at $1,755,500. Excluding the debt of the company's subsidiary Baltic Trading Limited (NYSE: BALT), GNK's total debt stood at $1,685,500,000.