{"id":8255,"date":"2013-07-02T06:40:56","date_gmt":"2013-07-02T10:40:56","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=8255"},"modified":"2013-07-02T06:40:56","modified_gmt":"2013-07-02T10:40:56","slug":"genco-shipping-trading-limited-nysegnk-shares-trading-high","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/genco-shipping-trading-limited-nysegnk-shares-trading-high-8255","title":{"rendered":"Genco Shipping &#038; Trading Limited (NYSE:GNK) shares trading high"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 02\/07\/2013 (wallstreetpr) &#8211; It has been recently that the general economic slowdown in China and Europe and, consequently, the crash in prices of such metals as platinum, uranium and ore led to the decrease in the rates of dry bulk shippers. This further led to a decline of the Baltic Dry Index, which reached a high level of more than 11,000 points in 2008, to the current level of less than 1000 points. In addition, the plain cyclicality experienced by the shipping industry is also adding on to its sharp fall in recent months.<\/p>\n<p style=\"text-align: justify;\">Few shipping companies had actually survived this steep fall in demand and shipping costs. It is estimated that the shipping industry has almost reached its bottom and that at the current level of prices, the earnings of the companies in the industry would not even be sufficient to cover the management and operation of existing fleets. Genco Shipping &amp; Trading Limited (NYSE:GNK) has recently (in May 2013) restructured its debt position assigning higher weight to short-term debt in order to comply with its covenant requirements.<\/p>\n<p style=\"text-align: justify;\">Shares of Genco Shipping &amp; Trading Limited (NYSE:GNK) increased by 6.13 percent to close at $1.73 on Monday. The shares recorded an intraday high of $1.80 per share and an intraday low of $1.65 per share during the day. As of the last trading session, shares of Genco Shipping &amp; Trading Limited (NYSE:GNK) had a 52-week high of $4.54 and a 52-week low price of $1.12 per share.<\/p>\n<p style=\"text-align: justify;\">Genco Shipping &amp; Trading Limited (NYSE:GNK) was trading at very high volumes of 0.84 million shares on Monday, while the average level of trading in the company is 0.88 million shares per day. With 44.26 million shares outstanding in the market, Genco Shipping &amp; Trading Limited (NYSE:GNK) has currently a market cap of $76.58 million and an institutional ownership of 105 percent of the total share capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 02\/07\/2013 (wallstreetpr) &#8211; It has been recently that the general economic slowdown in China and Europe and, consequently, the crash in prices of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2221,2222],"stock_ticker":[],"class_list":["post-8255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-genco-shipping-trading-limited-nysegnk","tag-nysegnk","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Genco Shipping &amp; 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