Genco Shipping & Trading Appoints Paramita Das to Board of Directors

NEW YORK, March 05, 2024 (GLOBE NEWSWIRE) — Genco Shipping & Trading Limited (NYSE:GNK), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced the appointment of Paramita Das to its Board of Directors effective immediately. With her appointment, the Board will comprise seven directors.

Ms. Das brings significant global leadership experience in the commodities sector. She previously served as the Global Head of Marketing, Development and ESG, Metals and Minerals at Rio Tinto. Prior to that, she held various leadership roles at Rio Tinto including General Manager, Marketing and Development, Metals and Head of the Chicago Commercial Office and Chief of Staff to the Chief Executive Officer. Ms. Das currently serves on the Board of Coeur Mining, Inc.

“Paramita is a highly respected global leader who brings a deep understanding of the commodities markets, which are vital to Genco, as well as further diversity to our Board,” said James G. Dolphin, Chairman of the Board. “Her appointment follows a comprehensive search process with the assistance of a leading executive search firm that was well underway mid-last year. We look forward to benefitting from Paramita’s unique perspectives and believe she will be highly additive to our strong existing Board as we continue to oversee and execute on our Comprehensive Value Strategy.”

“I am honored to join the Board of Genco, a company I was drawn to given its leadership in the drybulk shipping sector and its commitment to strong corporate governance,” said Ms. Das. “I look forward to bringing my expertise in commodities to the Board and working closely with my fellow directors to capture opportunities that will drive the Company forward and create value for shareholders.”

About Paramita Das

Paramita Das has served as Global Head of Marketing, Development and ESG, Metals and Minerals at Rio Tinto from June 2022 through February 2024. She served in various roles of increasing responsibility at Rio Tinto, including as President of Rio Tinto Nickle Inc. (renamed Rio Tinto Commercial Americas Inc.), President and CEO of Alcan Primary Products Company, LLC and a member of the Board of Directors of Rio Tinto Services Inc. since 2019. Prior to her tenure at Rio Tinto, Ms. Das served as Chief Strategy Officer for Consortium at Sumitomo Corporation, Itochu Corporation, UACJ Consortium and Head of Strategic Planning & Performance at BP. Ms. Das currently serves on the Board of Coeur Mining, Inc.

Ms. Das holds a Master of Business Administration from the University of Louisville.

About Genco Shipping & Trading Limited

Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a full-service logistics solution to our customers utilizing our in-house commercial operating platform, as we transport key cargoes such as iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. We make capital expenditures from time to time in connection with vessel acquisitions. As of March 5, 2024, Genco Shipping & Trading Limited’s fleet consists of 18 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,828,000 dwt and an average age of 11.7 years.