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Genco Shipping & Trading Limited Genco Unli limited On a course for success October 2017 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains


  1. Genco Shipping & Trading Limited Genco Unli limited On a course for success October 2017

  2. 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

  3. Genco Unlimited: On a course for success • Company Overview • Fleet Commercial Strategy • Major Bulk • Minor Bulk • Operational & Technical Performance • Market Update & Industry Overview • Conclusion 3

  4. Genco Unlimited: On a course for success • Company Overview • Fleet Commercial Strategy • Major Bulk • Minor Bulk • Operational & Technical Performance • Market Update & Industry Overview • Conclusion 4

  5. Executive Overview Genco is in a position of strength to become a bellwether Largest US based drybulk ship owner ― Drybulk company focused on major and minor bulk commodities Headquartered in the US Well positioned for a recovering market ― Well capitalized balance sheet with attractive debt facilities Spot exposure to improving freight rate environment ― Concentration on full in-house commercial platform Incorporating voyage charters and direct cargo liftings Providing logistics solution to major cargo owners ― Exploring growth and consolidation opportunities from a position of strength Continue to be leading low cost operator ― Achieved considerable vessel operating savings since 2014 Founded in December 2004 (NYSE:GNK) ― Full service operating platform with a diverse fleet of 60 vessels 5

  6. Optimization of Industry Leading Platform ✓ Strengthen Execution of strategic ▪ Balance Sheet initiatives has enhanced Genco’s already industry leading drybulk platform ✓ Expense Transformed commercial ▪ Optimization platform to an active owner-operator model to increase margins and outperform benchmarks ✓ Implement Operating Commercial Platform Next phase in the ▪ Company’s strategy is to look to acquire high quality, modern tonnage with a focus on Capesize Take Advantage of and Ultramax vessels Growth Opportunities 6

  7. Leading Market Position Genco has significantly improved its leading market position focusing on enhancing its commercial strategy and leading low-cost operations Genco TCE vs. DVOE Strong Balance Sheet & Straightforward Capital $9,000 Structure $8,439 TCE DVOE Strong Liquidity Position Large Scale Fleet Covering Major and Minor Bulks $181 Million at Jun 30 $8,000 Improved margins through executed commercial initiatives combined with cost savings measures $7,000 $6,498 Genco Shipping Strategic Chartering $6,000 Growth Potential & Trading Limited Focus $4,907 $5,000 $4,514 $4,395 $4,333 $4,000 Continuous Cost Savings Transparent Operations Since 2014 $3,000 No Newbuilding FY 2016 Q1 2017 Q2 2017 Capex Obligations 7

  8. 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 Percentage of Trade – 2016(e) Commodity Primary Vessel Type Genco Fleet Distribution (dwt) Genco Cargoes Carried Major Bulk Fleet Global Drybulk Trade Minor Bulk Fleet Iron Ore 25% 29% 58% Capesize Panamax Coal 28% 23% Grain 16% 10% 42% Supramax Handysize Minor Bulk 31% 38% 8 Source: Clarksons Research Services Limited 2017

  9. Upside Earnings Potential Combined With Steadier Income Stream Capesize exposure provides upside earnings potential while minor bulk fleet provides a steadier income stream Genco’s Fleet Concentrates on the Major and Minor Bulks Shipping 1.9 0.9 0.8 0.4 Market “Beta” Provides upside potential, highly Steadier income stream, versatile linked to the iron ore trade cargo carrying capabilities 30 26 25 20 # of Vessels 15 15 13 10 6 5 - Capesize Panamax Ultramax / Supramax / Handysize Handymax Major Bulk Minor Bulk Source: Marsoft Incorporated 9

  10. Consolidated Capital Structure Genco Shipping & Trading Limited $400 Million Credit Facility $98 Million Hayfin Facility $33 Million ABN/Sinosure Facilities 7 Capesize, 3 Panamax, 2 Ultramax, 19 6 Capesize, 3 Panamax, 2 Supramax, Supramax, 1 Handymax, 13 Handysize 2 Ultramax Vessels 2 Handysize Vessels Vessels Debt Outstanding: $403.6m Debt Outstanding: $95.3m Debt Outstanding: $26.9m Fixed Quarterly Debt Repayments: $7.6m - Fixed Quarterly Debt Repayments: $2.5m - Fixed Quarterly Debt Repayments: $0.7m (1) commencing in Q1 2019 commencing in Q4 2017 Covenant Overview  Minimum liquidity requirement reduced to $21.5 million through Dec 31, 2018 based on a fleet of 60 vessels No collateral maintenance test through Jun 29, 2018 for the $400 Million Credit Facility, minimum value covenant  thereafter of: 105% starting Jun 30, 2018, 115% from Dec 31, 2018, 135% from Dec 31, 2020 ― No collateral maintenance test through Dec 30, 2017 for the $33 million ABN/Sinosure Facilities, minimum value  covenant thereafter of: 100% starting Dec 31, 2017, 105% from Jun 30, 2018, 115% from Dec 31, 2018, 135% from Dec 31, 2019 ―  Collateral maintenance covenant of 140% for the $98 Million Credit Facility remains in place, but certain amounts can be netted against its measurement Debt outstanding presented above is as of June 30, 2017 and is gross of unamortized deferred financing costs  10 (1) Token fixed debt repayments of $0.1 million per quarter during 2017 and 2018. Fixed debt repayments step up to $18.6 million per quarter commencing in Q1 2021.

  11. Genco Unlimited: On a course for success • Company Overview • Fleet Commercial Strategy • Major Bulk • Minor Bulk • Operational & Technical Performance • Market Update & Industry Overview • Conclusion 11

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