kl09040.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): September 25,
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):
| 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))
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Item
2.01. Completion of
Acquisition or Disposition of Assets
On
September 25, 2008, the Company completed the acquisition of the Genco Thunder,
a 2007-built Panamax vessel, from Bocimar International N.V. The
Company had agreed to buy the vessel under the terms of agreements that the
Company entered into with Bocimar International N.V. and Delphis N.V. on May 9,
2008 to purchase three drybulk vessels for an aggregate purchase price of
approximately $257 million. The Genco Thunder is the third vessel to
be delivered to the Company under such agreements. The Company paid a
total purchase price of approximately $91 million for the Genco Thunder, which
the Company financed with borrowings under its 2007 credit
facility. The Genco Thunder is expected to be delivered to its
charterer, Glory Wealth Shipping Pte. Ltd., on or about September 27, 2008, to
commence a short-term time charter for approximately 50 days at a rate of
$35,000 per day, less a 5% third party brokerage commission.
A copy of
the Company’s press release announcing the delivery of this vessel to the
Company is attached hereto as Exhibit 99.1.
Item
9.01. Financial Statements
and Exhibits.
(d) Exhibits
99.1 Press
Release dated September 25, 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: September
25, 2008
/s/ John C.
Wobensmith
John
C. Wobensmith
Chief
Financial Officer
EXHIBIT
INDEX
99.1 Press
Release dated September 25, 2008.