There seems to be quite a disconnect between the rates earned by quality shipping companies putting their ships on long term contracts and those trying to earn revenue in the spot market.
The $65k is the highest daily rate of any of the ship in Genco’s fleet. With 3 more new ships coming on in 2009 this news bodes well for the company’s future prospects. And, hopefully, the dividend will be secure.
Disclosure: GNK is a component of my site’s hypothetical Opportunities Portfolio.