GENCO SHIPPING & TRADING LTD — Director's Dealing 2014

Jul 19, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2014-07-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-16	Common Stock	P	85530	$21.05	Acquired	1256577	Indirect
2014-07-16	Common Stock	P	12000	$21.05	Acquired	251238	Indirect
2014-07-16	Common Stock	P	8335	$21.12	Acquired	1264912	Indirect
2014-07-16	Common Stock	P	1665	$21.12	Acquired	252903	Indirect
2014-07-16	Common Stock	P	60838	$21.25	Acquired	2289371	Indirect
2014-07-16	Common Stock	P	95227	$21.25	Acquired	1360139	Indirect
2014-07-16	Common Stock	P	18935	$21.25	Acquired	271838	Indirect
2014-07-17	Common Stock	P	49230	$21.25	Acquired	2338601	Indirect
2014-07-17	Common Stock	P	31951	$21.25	Acquired	1392090	Indirect
2014-07-17	Common Stock	P	6187	$21.25	Acquired	278025	Indirect

Footnotes

F1: The reported securities are held directly by Strategic Value Special Situations Master Fund II, L.P., Strategic Value Special Situations Master Fund III, L.P. and Strategic Value Special Situations Offshore Fund III-A, L.P., and may be deemed to be held indirectly by Strategic Value Partners, LLC ("Strategic Value Partners"), SVP Special Situations II LLC ("Special Situations II"), SVP Special Situations III LLC ("Special Situations III"), SVP Special Situations III-A LLC ("Special Situations III-A"), each as investment manager and Victor Khosla ("Mr. Khosla" and together with Strategic Value Partners, Special Situations II, Special Situations III and Special Situations III-A, 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 II is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Master Fund II, L.P., a Cayman Islands exempted limited partnership. Strategic Value Partners is the managing member of Special Situations II. Strategic Value Partners and Special Situations II are both indirectly majority owned and controlled by Mr. Khosla.

F4: 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.

F5: Special Situations III-A is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Offshore Fund III-A, L.P., a Cayman Islands exempted limited partnership. Strategic Value Partners is the managing member of Special Situations III-A. Strategic Value Partners and Special Situations III-A are both indirectly majority owned and controlled by Mr. Khosla.