GENCO SHIPPING & TRADING LTD

Current report

Below is an update to the risk factor entitled, “Military actions, terrorist attacks, and other acts of violence may have an adverse effect on our business.”

Current report

In February 2026, the United States and Israel launched military operations against Iran, resulting in an armed conflict that has caused significant disruption to global energy markets and international shipping, including the effective closure of the Strait of Hormuz. In turn, these events have resulted in a sharp increase in oil prices and concerns that the supply of crude oil and petroleum products used for vessel fuel may be significantly constrained for some period of time. The broader consequences of this conflict are uncertain, and could include further sanctions, blockades, embargoes, regional instability, geopolitical shifts and adverse effects on macroeconomic conditions, the availability of raw materials, supplies, freight and labor, currency exchange rates and financial markets, all of which could impact our business, financial condition and results of operations. Regarding the drybulk market, the ability to transport certain minor bulk cargoes imported and exported from the region may be negatively impacted. Additionally, we anticipate fleet inefficiencies on the supply side due to vessels currently in the region as well as re-routing of cargo flows as well as an

Current report

increased emphasis on energy security. The broader impact from this conflict on global GDP growth and in turn demand for raw materials that we carry remains uncertain.

Current report

Government intervention to reduce commodity exports, such as a cap to bauxite shipments originating from Guinea, could reduce cargo volumes and negatively impact freight rates.

Previous report

As previously noted, the United States Trade Representative (USTR) put forward significant trade actions under Section 301 of the Trade Act of 1974, with the aim of addressing China’s dominance in the maritime, logistics, and shipbuilding industries. These actions have the potential to increase port fees and therefore the overall voyage expenses for ships calling at U.S. ports. These actions generally included a fee targeting Chinese owners and operators for each instance a vessel owned or operated by a Chinese entity enters a U.S. port. In response to the USTR imposed port fees, China imposed retaliatory port fees on vessels linked to U.S. ownership while exempting Chinese-built vessels. However, as part of broader trade negotiations between the two countries, both U.S. and China port fees have reportedly been suspended for one year.

Previous report

Given the potential magnitude of these port-related fees and the many uncertainties surrounding their implementation, it is not possible at this time to fully predict the ultimate financial impact. If the port fees are reimposed in a manner that applies to our vessels in any material respect, it could significantly reduce our profitability, negatively impact our ability to compete effectively, and materially and adversely affect our operations and financial results.

Previous report

Below is a new risk factor entitled “Our short-term shareholder rights plan could prevent a potential acquisition of control of our Company, which could decrease the trading price of our common stock.”:

Previous report

On October 1, 2025, we adopted a short-term stockholder rights plan, which expires on September 30, 2026. The rights plan may have the effect of discouraging or preventing a change of control of the Company by, among other things, making it uneconomical for a third-party to acquire us without the consent of our Board of Directors.

Previous report

We believe the rights plan protects our stockholders from coercive or otherwise unfair takeover tactics by effectively requiring those who seek to obtain control of the Company to negotiate with our Board of Directors and by providing our Board of Directors with more time to assess any acquisition of control. However, these provisions could apply even if an acquisition of control of the Company may be considered beneficial by some stockholders and could delay or prevent an acquisition of control that our Board of Directors determines is not in the best interests of our Company and our stockholders. The deterrent effect of the rights plan could also adversely affect the price of our common stock.