Genco Shipping & Trading (Genco Shipping & Trading) Interest Expense : $-8.8 Mil (TTM As of Dec. 2023)

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What is Genco Shipping & Trading Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Genco Shipping & Trading's interest expense for the three months ended in Dec. 2023 was $ -2.6 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-8.8 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Genco Shipping & Trading's Operating Income for the three months ended in Dec. 2023 was $ 20.7 Mil. Genco Shipping & Trading's Interest Expense for the three months ended in Dec. 2023 was $ -2.6 Mil. Genco Shipping & Trading's Interest Coverage for the quarter that ended in Dec. 2023 was 7.88. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Genco Shipping & Trading Interest Expense Historical Data

The historical data trend for Genco Shipping & Trading's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Genco Shipping & Trading Interest Expense Chart

Genco Shipping & Trading Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-31.96

-22.41

-15.36

-9.09

-8.78

Genco Shipping & Trading Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-2.17	-2.03	-2.13	-2.00	-2.62

Genco Shipping & Trading Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-8.8 Mil.

Genco Shipping & Trading (NYSE:GNK) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Genco Shipping & Trading's Interest Expense for the three months ended in Dec. 2023 was $-2.6 Mil. Its Operating Income for the three months ended in Dec. 2023 was $20.7 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $192.0 Mil.

Genco Shipping & Trading's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	20.654	/	-2.622
	=	7.88

The higher the ratio, the stronger the company's financial strength is.

Genco Shipping & Trading (Genco Shipping & Trading) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Genco Shipping & Trading Ltd (NYSE:GNK) » Definitions » Interest Expense

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Traded in Other Exchanges

GNU1:Germany

Address

299 Park Avenue, 12th Floor, New York, NY, USA, 10171

Website

https://www.gencoshipping.com

Genco Shipping & Trading Ltd is an international shipping company specializing in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It is involved in the ocean transportation of drybulk cargoes. The company operates in one segment, the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels. It generates revenue through time charter agreements, spot market voyage charters, pool agreements and spot market-related time charters.

Executives

Peter George Allen	officer: Chief Financial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Arthur L Regan	director	C/O ARLINGTON TANKERS LTD, THE HAYWARD BUILDING 22 BERMUDIANA ROAD, HAMILTON HM 11 D0 --
Jesper Christensen	officer: Chief Commercial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Robert E Hughes	officer: Chief Operations Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Apostolos Zafolias	officer: Chief Financial Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
John C Wobensmith	officer: Chief Financial Officer	35 WEST 56TH STREET, NEW YORK NY 10019
Joseph Adamo	officer: Chief Accounting Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Ccp Ii Cayman Gp Ltd.	10 percent owner	375 PARK AVE, 12TH FLOOR, NEW YORK NY 10152
Centerbridge Credit Partners, L.p.	10 percent owner	375 PARK AVENUE, 11TH FLOOR, NEW YORK NY 10152
Karin Y Orsel	director	HOGELANDSTERWEG 14, FARMSUM P7 9936 BH
Apollo Management Holdings Gp, Llc	10 percent owner	9 W. 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Strategic Value Partners, Llc	10 percent owner	100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Daniel Han	director	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Kathleen C Haines	director	P.O. BOX 385, COS COB CT 06807
Christoph O Majeske	director	17001 NORTHCHASE DR., STE. 100, HOUSTON TX 77060