GNK Q4 2022 results

Genco Shipping & Trading Ltd (GNK) announced results today (2/23/23)

Reasonable Q4 2022 results. However, the company indicates downward pressure on Q1 TCE and higher operating expenses in Q1 2023. Will have to see if there’s a reason provided for higher opex in Q1 2023 (dry dockings?? vessel upgrades??).
Debt paydown continues - now $171M, or less than $5M/vessel.
With unused credit facility and cash, GNK has ample liquidity. Scrubbers fitted on all their Cape vessels is a good hedge on fuel costs