Genco Shipping & Trading Limited

GNK

Reporting person: Diana Shipping Inc.(fund)

Diana Shipping seeks board control at Genco after rejection of $23.50/share offer

high confidence14.8% stake

Contest Strategydissident slate, solicitors, demands

IssuerGenco Shipping & Trading Limited (GNK)

Issuer solicitor—

Reporting personDiana Shipping Inc. (fund)

Dissident solicitor—

Stake6,413,151 phys / 0 synth14.8%

Dissident counsel—

Cost basis—

Meeting date—

Record date—

Primary demands

acquisition of Genco at $23.50 per share
board representation
strategic alternatives review
repeal of non-disclosed bylaws

Advisors

No advisor data on record for this deal.

Sources

SEC Filing

Diana Shipping Inc., which owns approximately 14.8% of Genco Shipping & Trading Limited, rejected Genco's dismissal of Diana's increased all-cash acquisition offer of $23.50 per share made in partnership with Star Bulk Carriers. Diana announced it will proceed with a proxy contest to elect independent director nominees to the Genco Board who will be open to all value-creation opportunities, including Diana's proposal. Diana emphasizes its $1.433 billion financing is fully committed with no conditions, contradicting Genco's claims of execution risk.

Item id: cc0f7655-3aea-4e90-aa14-7b659ecd319e · ingested Apr 24, 2026