The 2nd Act

When you find a willing seller don’t let him go. Last week, Genco also agreed to purchase five 35,000 DWT Handysize bulkcarriers, including three newbuildings, from Metrostar for an aggregate purchase price of approximately $166.3 million. The five vessels are expected to be delivered between July 2010 and September 2011. The acquisition will increase the fleet to 40 vessels, with a total carrying capacity of ~3.1 million DWT and an average age of 7.1 years.

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