Genco is latest shipping firm to increase loan as environmental upgrades loom

Trade shipping container ship sea from Adobe 230x150
By Mike Turner
09 May 2019

The US’s Genco Shipping & Trading has increased the size of its bank loan, as the global shipping industry prepares to finance sweeping mandatory changes to become more environmentally friendly.

Genco, the largest US-headquartered dry bulk ship owner, has increased its credit facility from $460m to $495m, earmarking the extra money to finance necessary changes to comply with global regulations coming into force from next year.

The increase was agreed as part of a facility amendment in February, but ...

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