Genco Shipping & Trading Limited

We are a New York City-based company, incorporated in the Marshall Islands. We transport iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Our fleet consists of 17 drybulk carriers, 16 of which we acquired from a subsidiary of The China National Cereals Oil and Foodstuffs Corp., or COFCO, a Chinese conglomerate, in December 2004 and during the first six months of 2005. The 17th vessel was acquired in October 2005 from Western Bulk Carriers. Fifteen of the 17 vessels in our fleet are on time charter contracts, with an average remaining life of one year as of December 31, 2005. Currently, the Genco Leader and the Genco Trader are trading in the Baumarine Pool and exposed to the spot market. All of our vessels are chartered to reputable charterers, including Lauritzen Bulkers A/S, or Lauritzen Bulkers, Cargill International S.A.