Genco Shipping & Trading (Genco Shipping & Trading) Average Age of Fleet in Years : 0.00 (As of . 20)

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What is Genco Shipping & Trading Average Age of Fleet in Years?

Average Age of Fleet in Years indicates the average age of fleet of this coompany. Companies with a higher average age of fleet may need to spend more on buying new ships, which reduces cash position in the future. Usually it reflects that the company has financial problems and failed to buy new fleets. Under rare situations it reflects good maintenance for existing fleets and extending their life.

The historical rank and industry rank for Genco Shipping & Trading's Average Age of Fleet in Years or its related term are showing as below:

GNKOQ's Average Age of Fleet in Years is not ranked ^*
in the Transportation industry.
Industry Median:
* Ranked among companies with meaningful Average Age of Fleet in Years only.

Genco Shipping & Trading Average Age of Fleet in Years Historical Data

The historical data trend for Genco Shipping & Trading's Average Age of Fleet in Years can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Genco Shipping & Trading Average Age of Fleet in Years Chart

Genco Shipping & Trading (OTCPK:GNKOQ) Average Age of Fleet in Years Explanation

Companies with a higher average age of fleet may need to spend more on buying new ships, which reduces cash position in the future. Usually it reflects that the company has financial problems and failed to buy new fleets. Under rare situations it reflects good maintenance for existing fleets and extending their life. Companies with a lower average age of fleet may also have a higher depreciation.

According to the data from statista.com, as of 2020, the average age of all ships in the world merchant fleet was just over 20 years. General cargo ships were the oldest type of vessels with an average age of around 26 years; likewise, over 65 percent of the world's cargo ships were older than 14 years, in contrast with over 18 percent of bulk carriers.

Genco Shipping & Trading Average Age of Fleet in Years Related Terms

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Genco Shipping & Trading (Genco Shipping & Trading) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Genco Shipping & Trading Ltd (OTCPK:GNKOQ) » Definitions » Average Age of Fleet in Years

Comparable Companies

Traded in Other Exchanges

GNK:USA GNU1:Germany GNU1:Germany

Address

299 Park Avenue, 12th Floor, New York, NY, USA, 10171

Website

https://www.gencoshipping.com

Genco Shipping & Trading Ltd is an international shipping company specializing in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It is involved in the ocean transportation of drybulk cargoes. The company operates in one segment, the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels. It generates revenue through time charter agreements, spot market voyage charters, pool agreements and spot market-related time charters.