Genco Shipping & Trading Limited (NYSE: GNK) announced it agreed to acquire a 2019 Imabari-built 182,000 deadweight ton scrubber-fitted Capesize vessel for $65 million, with delivery expected in June 2026, according to a company press release.

The New York-based drybulk shipping company also sold two 2005-built 55,000 deadweight ton Supramax vessels, the Genco Picardy and Genco Predator, for $10.6 million each. The vessels were delivered to buyers on March 30, 2026, and April 15, 2026, respectively.

Genco expects to report a gain on sale of approximately $2.1 million for the Genco Picardy in the first quarter of 2026 and a similar gain in the second quarter for the Genco Predator sale.

"We are pleased to have capitalized on the strong and liquid sale and purchase market to divest older, non-core vessels at levels above recent broker estimates," said John C. Wobensmith, chairman and chief executive officer.

The company stated it has invested approximately $408 million in seven modern vessels since the fourth quarter of 2023 and $557 million total since 2021 as part of its fleet modernization strategy.

Genco's fleet currently consists of 43 vessels with an average age of 12.5 years and aggregate capacity of approximately 4.9 million deadweight tons. The company focuses on transporting commodities including iron ore, coal, grain, steel products, bauxite, cement and nickel ore globally.