GENCO SHIPPING & TRADING LTD — Director's Dealing 2014

Oct 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2014-10-17

Reporting Person: Strategic Value Partners, LLC (10% Owner)
Reporting Person: SVP Special Situations III LLC (10% Owner)
Reporting Person: Khosla Victor (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-17	Common Stock	P	100000	$14.50	Acquired	1868917	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2753389	Indirect
Common Stock	365031	Indirect
Common Stock	2652581	Indirect

Footnotes

F1: The reported securities are held directly by Strategic Value Special Situations Master Fund III, L.P., and may be deemed to be held indirectly by Strategic Value Partners, LLC (""Strategic Value Partners""), SVP Special Situations III LLC (""Special Situations III""), as investment manager, and Victor Khosla (""Mr. Khosla"" and together with Strategic Value Partners and Special Situations III the ""Reporting Persons""), as the sole member of Midwood Holdings, LLC, the managing member of Strategic Value Partners, in each case as described below.

F2: The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owners of any of the shares of common stock, of Genco Shipping & Trading Limited (the "Issuer"). Pursuant to Rule 16a-1, the Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.

F3: Special Situations III is the investment manager of, and exercises investment discretion over, Strategic Value Special Situations Master Fund III, L.P., a Cayman Islands exempted limited partnership. Strategic Value Partners is the managing member of Special Situations III. Strategic Value Partners and Special Situations III are both indirectly majority owned and controlled by Mr. Khosla.

F4: Strategic Value Special Situations Master Fund II, L.P., a Cayman Islands exempted partnership ("Master Fund II"), holds 2,753,389 shares of Common Stock of the Issuer. Strategic Value Partners is the managing member of SVP Special Situations II LLC ("Special Situations II"), the investment manager of Master Fund II. Strategic Value Partners and Special Situations II are both indirectly majority owned and controlled by Mr. Khosla.

F5: Strategic Value Special Situations Offshore Fund III-A, L.P., a Cayman Islands exempted partnership (the "Offshore Fund"), holds 365,031 shares of Common Stock of the Issuer. Strategic Value Partners is the managing member of SVP Special Situations III-A LLC ("Special Situations III-A"), the investment manager of the Offshore Fund. Strategic Value Partners and Special Situations III-A are both indirectly majority owned and controlled by Mr. Khosla.

F6: Strategic Value Master Fund, Ltd., a Cayman Islands exempted company (the "Master Fund"), holds 2,652,581 shares of Common Stock of the Issuer. Strategic Value Partners is the investment manager of the Master Fund. Strategic Value Partners is indirectly majority owned and controlled by Mr. Khosla.