For the quarter ended December 31st, 2010, we forecast that Genco Shipping & Trading Limited (NYSE: GNK) generated basic earnings per common share of $1.00 on net income attributable to GNK shareholders of $35,200,000. We forecast that the company generated net consolidated TCE Revenues of approximately $127,500,000. We also forecast that EBITDA for the quarter was about $91,350,000.
As of December 31st, 2010 we estimate that the company had total debt of $1.745 billion inclusive of the convertible senior notes issued by GNK, and inclusive of $101.250 million of debt issued by the company’s subsidiary Baltic Trading Limited. We also estimate that GNK had a total capitalization of $3.080 billion.
GNK is a publicly traded shipping company that presently owns a modern diversified fleet of 49 dry cargo vessels with a total DWT capacity of approximately 3,650,000 MT. It also has on order 4 new building vessels with a total DWT capacity of approximately 163,000 MT.
In addition, the company’s subsidiary Baltic Trading Limited (NYSE: BALT) owns a fleet of nine dry cargo vessels with a total DWT capacity of 670,000 MT.
