Genco Shipping & Trading Limited Announces Plan
to Extend Time Charter for Supramax Vessel

Increases Time Charter Coverage to 61% for 2010

NEW YORK, March 11, 2010 /PRNewswire via COMTEX/ -- Genco Shipping & Trading Limited (NYSE: GNK) today announced that it has reached an agreement to extend the time charter for the Genco Hunter, a 2007-built Supramax vessel, with Pacific Basin Chartering Ltd. for approximately 11.0 to 13.5 months at a rate of $21,750 per day, less a 5% third-party brokerage commission.

The time charter is expected to commence following the expiration of the vessel's current time charter on or about April 1, 2010 and is subject to the completion of definitive documentation. Currently, Genco has approximately 61% of its fleet's estimated available days secured on contracts for the remainder of 2010.

About Genco Shipping & Trading Limited

Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco Shipping & Trading Limited currently owns a fleet of 35 drybulk vessels, consisting of nine Capesize, eight Panamax, four Supramax, six Handymax and eight Handysize vessels, with an aggregate carrying capacity of approximately 2,903,000 dwt.

Genco Shipping & Trading Limited