Information Provided By: 
Fly News Breaks for December 15, 2015
GNK
Dec 15, 2015 | 06:20 EDT
Morgan Stanley analyst Fotis Giannakoulis downgraded Genco Shipping to Underweight and lowered its price target to $1.20 from $7 on shares. Giannakoulis said the dry bulk market has had its worse year on record and high fleet growth and continued Chinese steel market weakness are expected to keep the market under pressure though 2017. The analyst Genco's spot and relatively aged fleet leaves it exposed to the weak market and will likely have to issue equity to deal with cash burn.
News For GNK From the Last 2 Days
