kl06018.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): June 16, 2008
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 (see General
Instruction A.2. below):
o |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item 1.01. Entry into a Material Definitive
Agreement
On June
16, 2008, Genco Shipping & Trading Limited (the “Company”) entered into
agreements with Lambert Navigation Ltd., Northville Navigation Ltd., Providence
Navigation Ltd., and Prime Bulk Navigation Ltd. under which the Company is to
purchase six drybulk vessels for an aggregate price of approximately $530
million. The acquisition is subject to customary closing conditions,
and the vessels are expected to be delivered from the fourth quarter of 2008
through the fourth quarter of 2009. The Company plans to draw upon
its $1.4 billion revolving credit facility to finance this acquisition initially
and will seek a new credit facility or alternative financing to meet its
longer-term requirements for these vessels. A copy of the Company’s
press release announcing these agreements is attached hereto as Exhibit 99.1 and
incorporated into this Item 1.01 by reference except for the third and fifth
paragraphs which contain quoted remarks.
Item
9. Financial
Statements and Exhibits
(c) Exhibits
99.1 Press
Release dated June 16, 2008.
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: June
16, 2008
/s/ John C.
Wobensmith
John C. Wobensmith
Chief Financial Officer, Secretary and Treasurer
(Principal
Financial and Accounting Officer)
99.1 Press
Release dated June 16, 2008.