Genco Shipping & Trading Limited Noble Capital Markets 14 th - PowerPoint PPT Presentation

Genco Shipping & Trading Limited Noble Capital Markets’ 14 th Annual Investor Conference January 2018

Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as “anticipate,” “budget,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances or future operating or financial performance. These forward looking statements are based on management’s current expectations and observations. Included among the factors that, in our view, could cause actual results to differ materially from the forward looking statements contained in this report are the following: (i) further declines or sustained weakness in demand in the drybulk shipping industry; (ii) continuation of weakness or further declines in drybulk shipping rates; (iii) changes in the supply of or demand for drybulk products, generally or in particular regions; (iv) changes in the supply of drybulk carriers including newbuilding of vessels or lower than anticipated scrapping of older vessels; (v) changes in rules and regulations applicable to the cargo industry, including, without limitation, legislation adopted by international organizations or by individual countries and actions taken by regulatory authorities; (vi) increases in costs and expenses including but not limited to: crew wages, insurance, provisions, lube, oil, bunkers, repairs, maintenance and general, administrative, and management fee expenses; (vii) whether our insurance arrangements are adequate; (viii) changes in general domestic and international political conditions; (ix) acts of war, terrorism, or piracy; (x) changes in the condition of the Company’s vessels or applicable maintenance or regulatory standards (which may affect, among other things, our anticipated drydocking or maintenance and repair costs) and unanticipated drydock expenditures; (xi) the Company’s acquisition or disposition of vessels; (xii) the amount of offhire time needed to complete repairs on vessels and the timing and amount of any reimbursement by our insurance carriers for insurance claims, including offhire days; (xiii) the completion of definitive documentation with respect to charters; (xiv) charterers’ compliance with the terms of their charters in the current market environment; (xv) the extent to which our operating results continue to be affected by weakness in market conditions and charter rates; (xvi) our ability to maintain contracts that are critical to our operation, to obtain and maintain acceptable terms with our vendors, customers and service providers and to retain key executives, managers and employees; and other factors listed from time to time in our public filings with the Securities and Exchange Commission including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 and its subsequent reports on Form 10-Q and Form 8-K. Our ability to pay dividends in any period will depend upon various factors, including the limitations under any credit agreements to which we may be a party, applicable provisions of Marshall Islands law and the final determination by the Board of Directors each quarter after its review of our financial performance. The timing and amount of dividends, if any, could also be affected by factors affecting cash flows, results of operations, required capital expenditures, or reserves. As a result, the amount of dividends actually paid may vary. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 2

Overview of Genco & Drybulk Market Dynamics

Executive Overview We believe that drybulk shipping is in the early stages of a market recovery offering attractive upside potential Favorable market fundamentals Commodity demand growth is forecast to outpace vessel supply growth Strengthening global economic landscape Increased demand from emerging market economies Historically low net fleet growth Genco is well positioned for the market recovery Spot exposure to improving freight rate environment Well capitalized balance sheet with attractive debt facilities Largest US based drybulk ship owner Drybulk company focused on major and minor bulk commodities Headquartered in the US Founded in December 2004 (NYSE:GNK) Full service operating platform with a diverse fleet of 60 vessels Shifted business model from tonnage provided to active owner/operator to improve margins Providing logistics solution to major cargo owners Strong corporate governance Transparent, US filer, independent board 4

Supply & Demand Development – Last 20 Years Drybulk Supply & Demand Growth (%) Fleet Growth Drybulk Trade Growth 18% Demand outpacing supply growth Chinese Record 16% Recovering market stimulus fleet growth Demand outpaced since 2H 2017 supply leading to 14% strong market Financial 12% China joins Crisis Steady WTO growth, fewer 10% deliveries BDI hit Asian 8% record financial lows crisis 6% 4% 2% 0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F -2% -4% Demand growth outpaced supply growth during various points in the 2000s  A strong freight rate environment ensued leading to increased ordering of newbuilding vessels  Robust ordering during boom years led to fleet growth outpacing demand growth for several years thereafter  Recently, supply growth has eased to levels not seen since the late 1990s / early 2000s  This led to demand growth exceeding supply growth in 2017 resulting in a stronger drybulk market environment  5 Source: Clarksons Research Services Limited 2018

2018 Drybulk Outlook Freight rate environment strengthened in 2017 Supply and demand fundamentals are expected to further improve in 2018 Expected 2018 Demand Fundamentals Expected 2018 Supply Fundamentals  Projected demand growth: 3%-4%  Projected demand growth: 3%-4%  Projected supply growth: 1%-2%  Projected supply growth: 1%-2%  Iron ore trade expected to drive  Iron ore trade expected to drive  Orderbook as a percentage of the  Orderbook as a percentage of the overall drybulk trade growth overall drybulk trade growth fleet is near 15 year low fleet is near 15 year low  Vale expected to increase iron ore  Vale expected to increase iron ore  56.6mdwt is >= 20 years old  56.6mdwt is >= 20 years old output by +25MT output by +25MT  45 VLOCs >= 250,000 dwt with an  45 VLOCs >= 250,000 dwt with an  Steel mill margins anticipated to  Steel mill margins anticipated to average age of 24 years could average age of 24 years could incentivize production and use of incentivize production and use of augment Capesize scrapping augment Capesize scrapping high quality seaborne iron ore high quality seaborne iron ore  Expecting seasonal rise in  Expecting seasonal rise in  Coal trade remains x-factor for  Coal trade remains x-factor for newbuilding deliveries in Q1 newbuilding deliveries in Q1 market, could be boosted by market, could be boosted by  Marginal net fleet growth forecast for  Marginal net fleet growth forecast for inventory restock in India inventory restock in India 2H 2018 2H 2018  Steady growth anticipated in minor  Steady growth anticipated in minor  Expecting ordering activity similar to  Expecting ordering activity similar to bulks led by grain and bauxite trades bulks led by grain and bauxite trades what has been seen from Q2 2017 what has been seen from Q2 2017 onwards onwards 6 Sources: Clarksons Research Services Limited 2018, Marsoft Incorporated

Key Drybulk Trading Lanes Drybulk shipping is a global business linking trade partners from around the world Iron Ore Coal Grain 7 Source: Braemar

Seaborne Drybulk Trade Increasing Further Seaborne Drybulk Trade by Commodity – Last 20 Years 1,950 1,800 Iron Ore Coal Grain Forest Products Steel Products Other 1,650 1,500 1,350 1,200 1,050 MT 900 750 600 450 300 150 - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Iron Ore Iron Ore Percentage of Global Trade – 1998 – 2.1 bt 2017 – 5.1 bt Coal Coal Last 20 Years Grain Grain Minor Bulks Minor Bulks 21% 24% 29% 11% 20% 10% 48% 37% 8 Source: Clarksons Research Services Limited 2018

Genco’s Fleet Strongly Aligns With Global Trade Dynamics Genco’s fleet of major and minor bulk vessels largely mirrors global trade flows, enabling the Company to capitalize on key trade routes Commodity Percentage of Trade – 2017 Primary Vessel Type Genco Fleet Distribution (dwt) Genco Cargoes Carried Major Bulk Fleet (# owned by Genco) Global Drybulk Trade Minor Bulk Fleet Iron Ore 29% Capesize 29% (13 vessels) 58% Coal Panamax 23% (6 vessels) 24% Grain 14% Supramax 10% 42% (26 vessels) Minor Bulk Handysize 34% (15 vessels) 37% 9 Source: Clarksons Research Services Limited 2018