GNK

Beat by 6 cents....we will see if the fun begins tomorrow!

Second Quarter 2009 and Year-to-Date Highlights -- Recorded net income of $37.6 million, or $1.20 basic and diluted earnings per share for the second quarter;
-- Took delivery of the Genco Commodus and delivered the vessel to Morgan
Stanley Capital Group Inc. for the commencement of a 23 to 25 month time
charter at a rate of $36,000 per day;
-- Signed short-term time charter agreements for three Panamax vessels, one
Supramax vessel and one Handymax vessel; and
-- Reached agreement to enter the five Handysize vessels chartered to
Lauritzen Bulkers A/S in a spot pool under the management of Lauritzen
Bulkers at the expiration of the current charters in August 2009.
Financial Review: 2009 Second Quarter
The Company recorded net income for the second quarter of 2009 of $37.6 million, or $1.20 basic and diluted earnings per share. Comparatively, for the three months ended June 30, 2008 net income was $60.9 million or $2.05 basic and $2.03 diluted earnings per share.