SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15 – SUBSEQUENT EVENTS On July 5, 2024, the Company completed the sale of the Genco Warrior, a 2005-built Supramax vessel, to a third party for $11,950 less 3.0% commission payable to a third party. The vessel asset for the Genco Warrior has been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2024 at its net book value. This vessel served as collateral under the $500 Million Revolver. The Company expects to record a gain on the sale of the Genco Warrior of approximately $4 to $5 million during the third quarter of 2024. On July 12, 2024, the Company made a voluntary debt prepayment of $5,000 under the $500 Million Revolver. On July 16, 2024, the Company entered into an agreement to sell the Genco Hadrian, a 2008-built Capesize vessel, to a third party for $25,000 less a 2.0% commission payable to a third party. The sale of the vessel is expected to be completed in October 2024. The vessel asset for the Genco Hadrian has been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2024 at its net sales price. Refer to Note 2 – Summary of Significant Accounting Policies regarding the impairment recorded for this vessel during the second quarter of 2024. On August 7, 2024, the Company announced a regular quarterly dividend of $0.34 per share to be paid on or about August 26, 2024 to shareholders of record as of August 19, 2024. The aggregate amount of the dividend is expected to be approximately $14.8 million, which the Company anticipates will be funded from cash on hand at the time the payment is to be made.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2024

15 – SUBSEQUENT EVENTS

On July 5, 2024, the Company completed the sale of the Genco Warrior, a 2005-built Supramax vessel, to a third party for $11,950 less 3.0% commission payable to a third party. The vessel asset for the Genco Warrior has been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2024 at its net book value. This vessel served as collateral under the $500 Million Revolver.

The Company expects to record a gain on the sale of the Genco Warrior of approximately $4 to $5 million during the third quarter of 2024.

On July 12, 2024, the Company made a voluntary debt prepayment of $5,000 under the $500 Million Revolver.

On July 16, 2024, the Company entered into an agreement to sell the Genco Hadrian, a 2008-built Capesize vessel, to a third party for $25,000 less a 2.0% commission payable to a third party. The sale of the vessel is expected to be completed in October 2024. The vessel asset for the Genco Hadrian has been classified as held for sale in the Condensed Consolidated Balance Sheet as of June 30, 2024 at its net sales price. Refer to Note 2 – Summary of Significant Accounting Policies regarding the impairment recorded for this vessel during the second quarter of 2024.

On August 7, 2024, the Company announced a regular quarterly dividend of $0.34 per share to be paid on or about August 26, 2024 to shareholders of record as of August 19, 2024. The aggregate amount of the dividend is expected to be approximately $14.8 million, which the Company anticipates will be funded from cash on hand at the time the payment is to be made.