Genco Shipping to buy six drybulk vessels

Genco Shipping & Trading Ltd.said it agreed to buy six drybulk vessels from affiliates of Evalend Shipping Co. S.A. for about $336 million to expand its fleet.
The dry bulk shipping company sees the deal contributing to its financial results in the near term, as all the ships are expected to be delivered during the fourth quarter.

Genco plans to finance the acquisition through borrowings under its $1.4 billion revolving credit facility, it said in a statement. (Reporting by Dilipp S. Nag in Bangalore)