Was on the road much of last week, and had not been keeping close track of one of my stock holdings - Genco Shipping (GNK). The company reported Q2 2022 results the first week of August 2022.
Genco (GNK) is a dry bulk shipping company owning a fleet of 44 vessels split between Capesize, Supramax and Ultramax vessels. Three items of note
- Company had higher operating costs in Q2 2022 while switching from (mostly) Chinese crews to Indian/Filipino crews
- Have a nice Slide (#21 in the deck) that covers the steps that China (from Q4 2021 thru July 2022) have taken to boost their economy
Note: The three July 2022 events finally involve “dollars” … But, when does the actual money flowing events really happen?
- Another nice slide (#22) that touches on grain and coal developments