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Enter Symbol:
 
Genco Shipping & Tra (GNK) [hlAlert]

Rating:
Outperform
GNK
down 92.89 %

GENCO SHIPPING & TRADIN G LIM (GNK) upgraded to Outperform with price target $18 by Oppenheimer

Posted on: Thursday,  Mar 5, 2009  8:25 AM ET by Oppenheimer

Oppenheimer rated Outperform GENCO SHIPPING & TRADIN G LIM (OTCBB: GNKOQ) on 03/05/2009. Previously Oppenheimer rated Perform
GENCO SHIPPING & TRADIN G LIM (OTCBB: GNKOQ) on 01/27/2009., when the stock price was $15.74. Since then, GENCO SHIPPING & TRADIN G LIM has lost 26.68% as of 03/05/2009's recent price of $11.54.

Genco Shipping & Trading Limited (GS&T) is engaged in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. The Company?s fleet consists of 32 drybulk carriers. 29 of the 32 vessels in its fleet are on time charter contracts. Three of its vessels operate in vessel pools, such as the Baumarine Panamax Pool and the Bulkhandling Handymax Pool. Most of its vessels are chartered to charterers, which include Lauritzen Bulkers A/S (Lauritzen Bulkers), Cargill International S.A. (Cargill), NYK Bulkship Europe (NYK Europe), Pacific Basin Chartering Ltd. (Pacbasin), STX Panocean (UK) Co. Ltd. (STX), COSCO Bulk Carriers Co., Ltd. (Cosco), and Hyundai Merchant Marine Co. Ltd. (HMMC).

OppenheimerFunds, Inc. has been helping investors achieve their financial goals since 1960. We are one of the nation's largest and most respected asset management companies. At OppenheimerFunds, we believe that in order for you to reach your financial goals, your investments must perform. That is why investment excellence—over the long term and across the range of our products—is our highest priority. OppenheimerFunds and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, hedge fund products, qualified retirement plans and subadvisory investment-management services.
as of 1/1/0001
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(*) Stock Price at the time of the recommendation.
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