Exhibit 10.1

GENCO SHIPPING & TRADING LIMITED

299 Park Avenue, 12th Floor

New York, New York 10171

April 29, 2020

Nordea Bank ABP, New York Branch,

as Administrative Agent and as Security Agent

1211 Avenue of the Americas, 23rd Floor,

New York, New York 10036

Attention: Shipping, Offshore and Oil Services

and

Lenders party to the

Credit Agreement referred to below

Re: Letter Amendment

Ladies and Gentlemen:

Reference is made to the Amended and Restated Credit Agreement, dated as of
February 28, 2019 (as amended, restated or otherwise modified from time to time,
the “Credit Agreement”), by and among Genco Shipping & Trading Limited, a
company incorporated under the laws of the Republic of the Marshall Islands
(“Borrower”), Nordea Bank ABP, New York Branch, as administrative agent (in such
capacity, “Administrative Agent”) and as security agent (in such capacity,
“Security Agent”), and the lenders from time to time a party thereto
(“Lenders”). Capitalized terms used but not otherwise defined herein shall have
the respective meanings assigned thereto in the Credit Agreement.

Borrower desires that it and the Subsidiary Guarantors enter into certain
hedging or similar agreements in respect of commodities and that the Credit
Agreement be amended to permit the Borrower and the Subsidiary Guarantors to
enter such agreements. In order to permit the Borrower and the Subsidiary
Guarantors to enter into such hedging or similar agreements, the Borrower hereby
requests, and the Agent and the Lenders signatory hereto (constituting Required
Lenders) hereby agree, that Section 8.19 of the Credit Agreement be hereby
amended by restating the language preceding the first proviso set forth therein
to read as follows:

“The Borrower will not and will not permit any Subsidiary Guarantor to enter
into Hedging Agreements or other hedging or similar agreements other than (i)
Hedging Agreements and (ii) other hedging or similar agreements meant (as to
this clause (ii)) to hedge against the price of commodities (including bunkers
or fuel and including any bunker or fuel spread transactions), in each case
entered into in the ordinary course of business and not for speculative
purposes;”

This letter agreement is limited precisely as written and shall not be deemed a
waiver of or consent to the modification of or deviation from any other term or
condition of the Credit Agreement and the other Credit Documents or any of the
other instruments or agreements referred to therein except as set forth herein,
or prejudice any right or rights which any of the

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Lenders or the Administrative Agent now have or may have in the future or in
connection with the Credit Agreement, as amended hereby, the other Credit
Documents or any of the other instruments or agreements referred therein. This
letter agreement may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which counterparts
when executed and delivered shall be an original, but all of which together
shall constitute one and the same instrument. A complete set of counterparts
shall be lodged with the Borrower and the Administrative Agent. This letter
agreement and the rights and obligations of the parties hereto shall be
construed in accordance with and governed by the laws of the State of New York.

This letter agreement shall become effective when the Borrower and the Lenders
constituting Required Lenders shall have signed a counterpart hereof (whether
the same or different counterparts.) This letter agreement may be delivered by
facsimile or other electronic transmission. This letter agreement shall
constitute a Credit Document. From and after the effective date hereof, all
references in the Credit Agreement and the other Credit Documents to the Credit
Agreement shall be deemed references to the Credit Agreement as modified hereby.

[Signatures on Following Pages]

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Very truly yours,

GENCO SHIPPING & TRADING LIMITED, as Borrower

By:

/s/ Apostolos Zafolias

Name:

Apostolos Zafolias

Title:

Chief Financial Officer

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NORDEA BANK ABP, NEW YORK BRANCH

as Administrative Agent, Security
Agent and a Lender

By:

/s/ Oddbjørn Warpe

Name:

Oddbjørn Warpe

Title:

Executive Director

/s/ Martin Lunder

Martin Lunder

Managing Director

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CRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK,
as a Lender

By:

/s/ Georgios Gkanasoulis

Name:

Georgios Gkanasoulis

Title:

Director

By:

/s/ Manon Didier

Name:

Manon Didier

Title:

Vice President

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CTBC BANK CO. LTD., as a Lender

By:

/s/ Ting Chen

Name:

Ting Chen

Title:

Senior Vice President

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DANISH SHIP FINANCE A/S, as a Lender

By:

/s/ Michael Frisch

Name:

Michael Frisch

Title:

COO

By:

/s/ Ole Stærgaard

Name:

Ole Stærgaard

Title:

Senior Relationship Manager

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DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT,
as a Lender

By:

/s/ Tilman Stein

/s/ Dr. Bastian Dühmert

Name:

Tilman Stein

Dr. Bastian Dühmert

Title:

Director

Director

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SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), as a Lender

By:

/s/ Arne Juell-Skielse

/s/ Olof Kajerdt

Name:

Arne Juell-Skielse

Olof Kajerdt

Title:

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ABN AMRO CAPITAL USA LLC, as a Lender

By:

/s/ Maria Fahey

Name:

Maria Fahey

Title:

Director

By:

/s/ Amit Wynalda

Name:

Amit Wynalda

Title:

Executive Director

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