kl12032.htm
UNITED
STATES
SECURITIES
AND EXCHANGE
COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of
the
Securities
Exchange Act of
1934
Date
of Report (Date of earliest event
reported): December 20, 2007
GENCO
SHIPPING & TRADING
LIMITED
(Exact
Name of Registrant as Specified
in Charter)
Republic
of the Marshall
Islands
|
000-28506
|
98-043-9758
|
(State
or Other
Jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
299
Park
Avenue
20th
Floor
(Address
of Principal Executive
Offices)
|
|
10171
(Zip
Code)
|
Registrant’s
telephone number, including
area code: (646) 443-8550
Check
the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation
of
the registrant under any of the following provisions (seeGeneral
Instruction A.2.
below):
r
|
Written
communications pursuant to
Rule 425 under the Securities Act (17 CFR
230.425)
|
r
|
Soliciting
material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
r
|
Pre-commencement
communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
r
|
Pre-commencement
communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
2.01. Completion
of Acquisition or Disposition
of Assets
On
December 20,
2007, the Company completed
the acquisition of
the Genco Predator, a
2005-built Supramax vessel, and the Genco Hunter, a
2007-built Supramax vessel, from affiliates of Evalend Shipping Co. S.A.
The Company had agreed
to
buy the vessels
under
the terms of
agreements that
the Company entered into with
such affiliates
on
August
10 and 13,
2007. The Company
paid a total purchase price
of approximately
$137 million
for
such vessels, which the Company financed
with
borrowings under its $1.4 billion credit facility. The
Genco Predator is currently on
charter with Intermare Transport GmbH at a rate of $22,500 per day, less a
4.5% third party brokerage
commission, and is expected to be delivered to the charterer by December 22,
2007. The charter is due to expire between January 2008 and March
2008. The Genco Hunter is expected to be delivered to its charterer,
Pacific Basin Chartering
Ltd., by December 22, 2007 to
commence a time charter for 2.5 to 5 months at a rate of $65,000 per day, less
a
5% third party brokerage commission.
A
copy of the Company’s press release
announcing the delivery of these vessels to the Company is attached hereto
as
Exhibit 99.1 and incorporated into this Item 2.01 by
reference.
Item
9.01. Financial
Statements and
Exhibits.
(d) Exhibits
99.1 Press
Release dated December 21,
2007.
SIGNATURE
Pursuant
to the requirements of the
Securities Exchange Act of 1934, Genco Shipping & Trading Limited has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
GENCO
SHIPPING & TRADING LIMITED
DATE: December
21, 2007
/s/
John C.
Wobensmith
John
C.
Wobensmith
Chief
Financial
Officer
EXHIBIT
INDEX
99.1 Press
Release dated December 21,
2007.