Form 8K Current Report
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 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): November 17, 2006
GENCO
SHIPPING & TRADING LIMITED
(Exact
name of registrant as specified in its charter)
|
Republic
of the Marshall Islands
|
000-5142
|
98-043-9758
|
|
(State
or other jurisdiction of
incorporation
or organization)
|
(Commission
file number)
|
(I.R.S.
employer
identification
no.)
|
|
299
Park Avenue, 20th
Floor
New
York, NY
(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))
Item
2.01. Completion
of Acquisition or Disposition of Assets
On
November 17, 2006, Genco Shipping & Trading Limited (“the Company”)
completed its acquisition of three drybulk vessels from affiliates of Franco
Compania Naviera S.A. by taking delivery of the third such vessel, a 1998
Japanese-built Panamax vessel that is being named the Genco Surprise. The
Company had entered into an agreement on July 10, 2006 for the acquisition
of
these vessels for an aggregate purchase price of $81.25 million. The other
two
vessels, a 1999 Japanese-built Panamax vessel that was named the Genco Acheron
and a 1994 Japanese-built Handymax vessel that was named the Genco Commander,
were delivered earlier in November 2006. Genco financed the acquisition of
the
three vessels through borrowings under its existing revolving credit facility.
With the addition of these three vessels, Genco’s fleet consists of seven
Panamax, eight Handymax, and five Handysize drybulk carriers, with a total
carrying capacity of approximately 1,029,000 dwt and an average fleet age of
nine years.
Item
7.01 Regulation FD Disclosure
The
full
text of the Company’s press release, dated November 20, 2006, announcing the
delivery of the third vessel and the completion of the acquisition, is attached
as Exhibit 99.1 to this Current Report on Form 8-K. Pursuant to General
Instruction B.2 of Form 8-K, all of the information contained in the
accompanying Exhibit 99.1 shall be deemed to be “furnished” and not “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
and,
therefore, shall not be incorporated by reference in any filing under the
Securities Act of 1933, as amended.
Item
9. Financial
Statements and Exhibits
(c)
Exhibits
Exhibit
No. Description
99.1 Press
Release dated November 20, 2006.
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
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/s/
John C.
Wobensmith
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John C. Wobensmith
Chief
Financial Officer, Secretary and Treasurer
(Principal Financial and Accounting
Officer)
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DATE:
November 20, 2006
Exhibit
Index
Exhibit
No. Description
99.1 Press
Release dated November 20, 2006.
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