GENCO SHIPPING & TRADING LTD
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
We do not own any real property. Under our lease with the over-landlord for our main office in New York, the monthly base rental payments were $0.2 million per month from May 1, 2023 to September 30, 2025.
On October 14, 2024, we entered into a lease agreement to extend our current lease agreement for our main office which commenced on October 1, 2025 until July 31, 2036, with a free base rental period until August, 2027. Following the expiration of the free base rental period, the monthly base rental payments will be $0.07 million until the end of the lease term.
Future minimum rental payments on the above lease are as follows: $0 for 2026, $0.3 million for 2027, $0.8 million for each year from 2028 through 2030 and $4.9 million thereafter.
On June 14, 2019, we entered into a sublease agreement for a portion of this leased space for our main office in New York, New York that commenced on July 26, 2019 and ended on September 29, 2025. There was a free base rental period for the first four and a half months commencing on July 26, 2019. Following the expiration of the free base rental period, the monthly base sublease income was $0.1 million per month until September 29, 2025.
In addition, we signed a lease for an office space in Singapore effective January 17, 2019 for a three-year term, which was most recently extended on January 17, 2026 for a three-year term.
Lastly, we signed a lease for a new office space in Copenhagen effective January 1, 2023 with a current minimum period ending August 2026.
For a description of our vessels, see “Our Fleet” in Item 1, “Business” in this report. As of December 31, 2025, 41 of the 43 vessels in our fleet served as collateral under our credit facility. Please see “Liquidity and Capital Resources” and “Critical Accounting Policies — Vessels and Depreciation” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operation” for a further description. The foregoing descriptions are incorporated into this Item 2 by reference.
We consider each of our significant properties to be suitable for its intended use.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.