GNK (Genco Shipping & Trading) Effective Interest Rate on Debt % : 13.72% (As of Sep. 2024)

View and export this data going back to 2005. Start your Free Trial

What is Genco Shipping & Trading Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Genco Shipping & Trading's annualized positive value of Interest Expense for the quarter that ended in Sep. 2024 was $11.9 Mil. Genco Shipping & Trading's average total debt for the quarter that ended in Sep. 2024 was $86.6 Mil. Therefore, Genco Shipping & Trading's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 was 13.72%.

Genco Shipping & Trading Effective Interest Rate on Debt % Historical Data

The historical data trend for Genco Shipping & Trading's Effective Interest Rate on Debt % 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.

* Premium members only.

Genco Shipping & Trading Effective Interest Rate on Debt % Chart

Genco Shipping & Trading Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

Get a 7-Day Free Trial

6.21

4.75

4.41

4.36

4.81

Genco Shipping & Trading Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															5.36	6.19	9.02	10.49	13.72

Competitive Comparison of Genco Shipping & Trading's Effective Interest Rate on Debt %

For the Marine Shipping subindustry, Genco Shipping & Trading's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Genco Shipping & Trading's Effective Interest Rate on Debt % Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Genco Shipping & Trading's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Genco Shipping & Trading's Effective Interest Rate on Debt % falls into.

Genco Shipping & Trading Effective Interest Rate on Debt % Calculation

Genco Shipping & Trading's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -8.78	/	( (171.124	+	194.265)	/ 2 )
=	-1 * -8.78	/	182.6945
=	4.81 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	169.017	+	2.107
=	171.124

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	191.97	+	2.295
=	194.265

Genco Shipping & Trading's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2024 )	+	Total Debt (Q: Sep. 2024 ))	/ count )
=	-1 * -11.88	/	( (99.129	+	74.056)	/ 2 )
=	-1 * -11.88	/	86.5925
=	13.72 %

where

	Total Debt (Q: Jun. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	96.774	+	2.355
=	99.129

	Total Debt (Q: Sep. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	71.67	+	2.386
=	74.056

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Sep. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Genco Shipping & Trading (NYSE:GNK) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Genco Shipping & Trading Effective Interest Rate on Debt % Related Terms

Thank you for viewing the detailed overview of Genco Shipping & Trading's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.

Genco Shipping & Trading Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Genco Shipping & Trading Ltd (NYSE:GNK) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

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.

Executives

Arthur L Regan	director	C/O ARLINGTON TANKERS LTD, THE HAYWARD BUILDING 22 BERMUDIANA ROAD, HAMILTON HM 11 D0 --
Joseph Adamo	officer: Chief Accounting Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Peter George Allen	officer: Chief Financial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Jesper Christensen	officer: Chief Commercial Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
John C Wobensmith	officer: Chief Financial Officer	35 WEST 56TH STREET, NEW YORK NY 10019
Robert E Hughes	officer: Chief Operations Officer	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Apostolos Zafolias	officer: Chief Financial Officer	GENCO SHIPPING & TRADING, 299 PARK AVENUE, 12TH FLOOR, NEW YORK NY 10171
Ccp Ii Cayman Gp Ltd.	10 percent owner	375 PARK AVE, 12TH FLOOR, NEW YORK NY 10152
Centerbridge Credit Partners, L.p.	10 percent owner	375 PARK AVENUE, 11TH FLOOR, NEW YORK NY 10152
Karin Y Orsel	director	HOGELANDSTERWEG 14, FARMSUM P7 9936 BH
Apollo Management Holdings Gp, Llc	10 percent owner	9 W. 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Strategic Value Partners, Llc	10 percent owner	100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Daniel Han	director	GENCO SHIPPING & TRADING LIMITED, 299 PARK AVE., 12TH FLOOR, NEW YORK NY 10171
Kathleen C Haines	director	P.O. BOX 385, COS COB CT 06807
Christoph O Majeske	director	17001 NORTHCHASE DR., STE. 100, HOUSTON TX 77060