Genco sells oldest ship for $13.2M |
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Published
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Tue, 23 Jan 2007 01:32
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NEW YORK (AFX) - Genco Shipping & Trading Ltd. said on Monday it agreed to sell the oldest ship vessel in its fleet for about $13.2 million to Cloud Maritime SA.The shipping company is set to gain a $3.6 million profit from the sale of the Genco Glory, a 1984-ship built Handymax vessel. Genco is expecting to complete the sale of the vessel in the first quarter of 2007.The ship will delivered after the expiration of the vessel's current time charter between Feb. 1 and March 15.Shares of Genco gained 7 cents to finish at $30.37 on the Nasdaq Stock Market.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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