Poised for opportunities

Genco Shipping & Trading has completed its planned vessel disposals, and has put an additional five 1999-built vessels up for sale. Continued fleet renewal, a more aggressive stance on potential fleet expansion, and improving margins thanks to in-house operations are positive for the company's outlook in our view. Coupled with an encouraging market outlook fuelled by strong Chinese demand and an historically stronger H2, we reiterate our BUY recommendation and have raised our target price to USD...