Genco Shipping (GNK) has filed for bankruptcy, Bloomberg reports, as weakness in charter rates for its dry-bulk cargo ships made it difficult for the company to pay its creditors; shares have been halted since the open.
GNK reportedly listed assets of $2.4B and debt of $1.5B in a Chapter 11 filing.
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April 22nd, 2014 at 7:04 am
Report: Genco Shipping files for bankruptcy
Yesterday, 12:23 PM ET · GNK