OMB APPROVAL
	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549		OMB NUMBER. . . . 3235-0058 Expires: . . . . . . August 31, 2015 Estimated average burden hours per response .. . . . . . . . 2.5
	FORM 12b-25		SEC FILE NUMBER
	NOTIFICATION OF LATE FILING		CUSPID NUMBER

 

(Check one):

x  Form 10-K    o Form 20-F    o Form 11-K    o Form 10-Q    o Form 10-D    o Form N-SAR

o Form N-CSR

For Period Ended:

12/31/2013

o

Transition Report on Form 10-K

o

Transition Report on Form 20-F

o

Transition Report on Form 11-K

o

Transition Report on Form 10-Q

o

Transition Report on Form N-SAR

For the Transition Period Ended:

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

PART I — REGISTRANT INFORMATION

PART II — RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

PART III — NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Genco Shipping & Trading Limited (the “Company”) has determined that it is unable to file its Annual Report on Form 10-K for fiscal year ended December 31, 2013 in a timely manner.  As discussed in the Current Report on Form 8-K filed by the Company on February 19, 2014, the Company is seeking restructuring of its capital structure and is in ongoing discussions with representatives of its secured lenders and certain other holders of its indebtedness concerning a potential restructuring of its indebtedness. Due to the demands associated with the potential restructuring and related activities, despite diligent efforts, the Company has been unable to complete the preparation, review, and filing of its Annual Report on Form 10-

 

---

---

Genco Shipping & Trading Limited

Form 12b-25

March 17, 2014

K within the prescribed time period without unreasonable effort and expense.  The Company anticipates filing its Annual Report within the additional time provided by the filing.

The Company believes that the Form 10-K may include going concern uncertainty disclosure.

Cautionary Note Regarding Forward Looking Statements

This Form 12b-25 contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended.  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. Forward-looking statements are subject to various known and unknown risks and uncertainties and we caution you that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Our actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond our control, including, but not limited to, the outcome of the ongoing discussions with representatives of holders of our indebtedness and those other uncertainties and risk factors detailed from time to time in reports filed by us with the Securities and Exchange Commission, including our most recent reports on Forms 10-K and 10-Q.

---

(Attach extra Sheets if Needed)

PART IV — OTHER INFORMATION

(1)	Name and telephone number of person to contact in regard to this notification

(2)

Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s).

(3)	Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof ?

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

The Company expects to report the following results of operations for the year ended December 31, 2013:  voyage revenues are expected to increase to approximately $224 million for the year ended December 31, 2013 compared to $223.2 million for the prior year.  The Company expects its net loss for the year ended December 31, 2013 to be approximately $157 million compared to a net loss of $157.8 million during the prior year.

Voyage expenses are expected to increase to approximately $8 million for the year ended December 31, 2013 compared to $7.0 million for the prior year.  Vessel operating expenses are expected to decrease to approximately $112 million for the year ended December 31, 2013 compared to $114.3 million for the prior year.  For the year ended December 31, 2013, the Company expects to report an operating loss of approximately $67 million compared to an operating loss of $69.3 million for the prior year.

The foregoing information is based on the Company’s preliminary estimates of its results of operations for the year ended December 31, 2013 and anticipated changes from the prior year. The Company’s estimates are subject to change, and actual results may differ significantly from these estimates.

 

---

 

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.

 

---