Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. It transports iron ore, coal, grain, steel products, and other drybulk cargoes. The company principally charters its vessels to trading houses, including commodities traders; producers; and government-owned entities. As of December 31, 2006, it owned a fleet of 19 drybulk carriers consisting of 7 Panamax, 7 Handymax, and 5 Handysize vessels, with a carrying capacity of approximately 988,000 deadweight tons. The company was founded in 2004 and is based in New York, New York.