http://www.marine-money.com The Ship Finance Publication Of Record Mon, 16 Jan 2012 04:04:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.marine-money.com/archive/hard-numbers http://www.marine-money.com/archive/hard-numbers#comments Thu, 06 Nov 2008 15:31:30 +0000 carisk http://marine-money.com/?p=4434 Genco Bites the Bullet On Tuesday, Genco Shipping & Trading (“Genco”) made the correct but painful decision to cancel the previously announced acquisition of six dry bulk newbuildings, including three Capesize and three handysize vessels, from Lambert Navigation et.al., at an aggregate purchase price of $530 million. As part of the agreement, the sellers will retain the deposits totaling $53 million. The three Capesize vessels and three Handysize vessels are being constructed in the Daehan and Jinse shipyards in South Korea, with deliveries commencing in the 4th quarter 2008 (two Handysize) through 2009. By foregoing the delivery of the vessels, the company, according to John Wobensmith, will strengthen its]]> http://www.marine-money.com/archive/hard-numbers/feed 0