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):

On December 14, 2023, Genco Shipping & Trading Limited (“Genco” or the “Company”) provided an update to its estimated time charter equivalent (“TCE”) rate for the fourth quarter of 2023. On a fleet-wide basis, the Company estimates its TCE rate for the fourth quarter of 2023 to be approximately $17,200 per day for approximately 95% of its owned available days for the quarter. This figure is estimated based on both period and spot fixtures for the Company’s vessels and is inclusive of scrubber premium. This figure is subject to change based on the closing of our financial results for the quarter, including the timing of voyage revenue and voyage expense recognition under GAAP reporting standards. The Company also estimates a total of approximately 4,075 owned fleet available days for the fourth quarter of 2023.

Freight rates in the fourth quarter of 2023 have increased meaningfully, particularly since mid-November to date for Capesize vessels, relative to third quarter levels. With the majority of our fleet trading in the spot market, we have been able to benefit from this rise.

TCE is a non-GAAP measure presented to provide investors with a means of better evaluating and understanding the Company’s operating performance. We define TCE rates as our voyage revenues less voyage expenses, charter hire expenses, and realized gain or losses on fuel hedges, divided by the number of the available days of our owned fleet during the period. TCE rate is a common shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charterhire rates for vessels on voyage charters are generally not expressed in per-day amounts while charterhire rates for vessels on time charters generally are expressed in such amounts. Our estimated TCE for the fourth quarter of 2023 is based on fixtures booked to date. Actual results may vary based on the actual duration of voyages and other factors. Accordingly, we are unable to provide, without unreasonable efforts, a reconciliation of estimated TCE for the fourth quarter to the most comparable financial measures presented in accordance with GAAP. From time to time, we may provide estimates of our TCE rate for a given quarter.  Our vessel fixtures, owned available days, and TCE rate may all vary from those of prior estimates.  We do not undertake any obligation to update, revise, or continue to provide such estimates.

Regarding the previously announced sale of the Genco Commodus, we expect to record a non-cash charge of approximately $3 million during the fourth quarter of 2023 relating to this sale.

The information set forth under this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Such forward-looking statements use words such as “anticipate,” “budget,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances or future operating or financial performance. These forward-looking statements are based on our management’s current expectations and observations. Included among the factors that, in our view, could cause actual results to differ materially from the forward looking statements contained in this release are the following: (i) declines or sustained weakness in demand in the drybulk shipping industry; (ii) weakness or declines in drybulk shipping rates; (iii) changes in the supply of or demand for drybulk products, generally or in particular regions; (iv) changes in the supply of drybulk carriers including newbuilding of vessels or lower than anticipated scrapping of older vessels; (v) increases in costs and expenses including but not limited to: crew wages, insurance, provisions, lube oil, bunkers, repairs, maintenance, general and administrative expenses, and management fee expenses; (vi) changes in general domestic and international political conditions; (vii) acts of war, terrorism, or piracy, including without limitation the ongoing war in Ukraine; (viii) changes in the condition of the Company’s vessels or applicable maintenance or regulatory standards (which may affect, among other things, our anticipated drydocking or maintenance and repair costs) and unanticipated drydock expenditures; (ix) the completion of definitive documentation with respect to charters; (x) charterers’ compliance with the terms of their charters in the current market environment; (xi) the extent to which our operating results are affected by weakness in market conditions and freight and charter rates; (xii) our ability to maintain contracts that are critical to our operation, to obtain and maintain acceptable terms with our vendors, customers and service providers and to retain key executives, managers and employees; (xiii) the relative cost and availability of low sulfur and high sulfur fuel, worldwide compliance with sulfur emissions regulations that took effect on January 1, 2020 and our ability to realize the economic benefits or recover the cost of the scrubbers we have installed; (xiv) the duration and impact of the COVID-19 novel coronavirus epidemic, which may negatively affect general global and regional economic conditions, our ability to charter our vessels at all and the rates at which are able to do so; our ability to call on or depart from ports on a timely basis or at all; our ability to crew, maintain, and repair our vessels, including without limitation the impact diversion of our vessels to perform crew rotations may have on our revenues, expenses, and ability to consummate vessel sales, expense and disruption to our operations that may arise from the inability to rotate crews on schedule, and delay and added expense we may incur in rotating crews in the current environment; and other factors relevant to our business described from time to time in our filings with the Securities and Exchange Commission; and (xv) other factors listed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent reports on Form 8-K and Form 10-Q). We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.