Exhibit 10.3

EXECUTION VERSION

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Fourth
Amendment”), dated as of June 5, 2020, by and among Genco Shipping & Trading
Limited, a company incorporated under the laws of the Republic of the Marshall
Islands (the “Borrower”), the Subsidiary Guarantors party hereto, the Lenders
party hereto and Nordea Bank ABP, New York Branch, as Administrative Agent (in
such capacity, the “Administrative Agent”) and Security Agent (in such capacity,
the “Security Agent”). Unless otherwise indicated, all capitalized terms used
herein and not otherwise defined shall have the respective meanings provided
such terms in the Credit Agreement referred to below.

W I T N E S S E T H:

WHEREAS, the Borrower, the Administrative Agent, the Security Agent and the
Lenders party thereto are party to that certain Amended and Restated Credit
Agreement, dated as of February 28, 2019 (as amended pursuant to that certain
First Amendment to Amended and Restated Credit Agreement, dated as of June 28,
2019, that certain Second Amendment to Credit Agreement, dated as of November 5,
2019, that certain Letter Amendment to Amended and Restated Credit Agreement,
dated as of April 29, 2020, and as further amended, restated, supplemented
and/or otherwise modified from time to time prior to the date hereof, the
“Credit Agreement”).

WHEREAS, the Borrower has requested certain amendments to the Credit Agreement.

WHEREAS, subject to the terms and conditions of this Fourth Amendment, the
parties hereto wish to amend certain provisions of  the Credit Agreement as
herein provided.

NOW, THEREFORE, it is agreed:

I.          Amendments to Credit Agreement.

1.         Section 1.01 of the Credit Agreement is hereby amended by amending
and restating the definition of “Technical Manager” appearing therein in its
entirety to read as follows:

““Technical Manager” shall mean any of Anglo-Eastern Shipmanagement, Synergy
Group, Vships USA LLC and Wallem Ship Management Limited, or any Affiliates of
the foregoing which provide such technical management services, or one or more
other technical managers selected by the Borrower and reasonably acceptable to
the Required Lenders.”

2.         Section 4.02(b)(ii)(2) of the Credit Agreement is hereby amended by
deleting each reference to “180” appearing therein and substituting “360” in
lieu thereof.

II.        Miscellaneous Provisions.

1.         In order to induce the Lenders to enter into this Fourth Amendment,
the Borrower hereby represents and warrants that (i) no Default or Event of
Default exists as of the Fourth

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Amendment Effective Date (as defined below) after giving effect to this Fourth
Amendment and (ii) all of the representations and warranties contained in the
Credit Agreement and the other Credit Documents are true and correct in all
material respects on the Fourth Amendment Effective Date after giving effect to
this Fourth Amendment, with the same effect as though such representations and
warranties had been made on and as of the Fourth Amendment Effective Date (it
being understood that any representation or warranty that by its terms is made
as of a specific date shall be true and correct in all material respects as of
such specific date).

2.         This Fourth Amendment is limited precisely as written and shall not
be deemed to (i) be a waiver of or a 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 (ii) prejudice any right or rights which any of
the Lenders or the Administrative Agent now have or may have in the future under
or in connection with the Credit Agreement, as amended hereby, the other Credit
Documents or any of the other instruments or agreements referred to therein. The
Administrative Agent, the Security Agent and the Lenders expressly reserve all
their rights and remedies except as expressly set forth in this Fourth
Amendment.

3.         This Fourth Amendment 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
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent.

4.         THIS FOURTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK.

5.         This Fourth Amendment shall become effective as of the date (the
“Fourth Amendment Effective Date”) when:

(i)         the Borrower, the Subsidiary Guarantors and the Lenders constituting
Required Lenders shall have signed a counterpart hereof (whether the same or
different counterparts) and shall have delivered (including by way of email) the
same to White & Case LLP, 1221 Avenue of the Americas, New York, NY 10036;
Attention: Evan Rahn (email: evan.rahn@whitecase.com); and

(ii)       the Borrower shall have paid to the Administrative Agent all
reasonable out-of-pocket costs and expenses incurred in connection with the
Fourth Amendment and the other Credit Documents (including, without limitation,
the reasonable fees and expenses of White & Case LLP).

6.         From and after the Fourth Amendment Effective Date, all references in
the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement, as modified
hereby. From and after the Fourth Amendment Effective Date, this Fourth
Amendment shall for all purposes constitute a Credit Document.

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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized
officers to execute and deliver this Fourth Amendment as of the date first above
written.

GENCO SHIPPING & TRADING LIMITED,
as the Borrower

By:

/s/ Apostolos Zafolias

Name: Apostolos Zafolias

Title: Chief Financial Officer

[Signature page to Genco Fourth Amendment]

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GENCO RAPTOR LLC,

GENCO THUNDER LLC,

GENCO CAVALIER LLC,

each as a Subsidiary Guarantor

By:

/s/ Apostolos Zafolias

Name:

Apostolos Zafolias

Title:

Manager and Chief Financial Officer

BALTIC TRADING LIMITED,

GENCO HOLDINGS LIMITED,

each as a Subsidiary Guarantor

By:

/s/ Apostolos Zafolias

Name:

Apostolos Zafolias

Title:

Chief Financial Officer

GENCO INVESTMENTS LLC,

By:

Genco Shipping & Trading Limited, its Sole

Member,

as a Subsidiary Guarantor

By:

/s/ Apostolos Zafolias

Name:

Apostolos Zafolias

Title:

Chief Financial Officer and Executive
Vice President, Finance

[Signature page to Genco Fourth Amendment]

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BALTIC BEAR LIMITED

GENCO CHAMPION LIMITED

BALTIC BREEZE LIMITED

GENCO CHARGER LIMITED

BALTIC COUGAR LIMITED

GENCO CLAUDIUS LIMITED

BALTIC COVE LIMITED

GENCO COMMODUS LIMITED

BALTIC FOX LIMITED

GENCO CONSTANTINE LIMITED

BALTIC HARE LIMITED

GENCO HADRIAN LIMITED

BALTIC HORNET LIMITED

GENCO HUNTER LIMITED

BALTIC JAGUAR LIMITED

GENCO LANGUEDOC LIMITED

BALTIC LEOPARD LIMITED

GENCO LOIRE LIMITED

BALTIC LION LIMITED

GENCO LONDON LIMITED

BALTIC MANTIS LIMITED

GENCO LORRAINE LIMITED

BALTIC PANTHER LIMITED

GENCO MARE LIMITED

BALTIC SCORPION LIMITED

GENCO MAXIMUS LIMITED

BALTIC TIGER LIMITED

GENCO NORMANDY LIMITED

BALTIC WASP LIMITED

GENCO OCEAN LIMITED

BALTIC WIND LIMITED

GENCO PICARDY LIMITED

BALTIC WOLF LIMITED

GENCO PREDATOR LIMITED

GENCO AQUITAINE LIMITED

GENCO PROVENCE LIMITED

GENCO ARDENNES LIMITED

GENCO PYRENEES LIMITED

GENCO AUGUSTUS LIMITED

GENCO RHONE LIMITED

GENCO AUVERGNE LIMITED

GENCO SPIRIT LIMITED

GENCO AVRA LIMITED

GENCO TIBERIUS LIMITED

GENCO BAY LIMITED

GENCO TITUS LIMITED

GENCO BOURGOGNE LIMITED

GENCO WARRIOR LIMITED

GENCO BRITTANY LIMITED

GENCO CHALLENGER LIMITED

each as a Subsidiary Guarantor

By:

/s/ Apostolos Zafolias

Name:

Apostolos Zafolias

Title:

Director and Vice President

[Signature page to Genco Fourth Amendment]

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NORDEA BANK ABP, NEW YORK BRANCH,
individually, as Administrative
Agent, Security Agent and a Lender

By:

/s/ Oddbjørn Warpe

Name:

Oddbjørn Warpe

Title:

Executive Director

By:

/s/ Martin Lunder

Name:

Martin Lunder

Title:

Managing Director

[Signature page to Genco Fourth Amendment]

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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:

[Signature page to Genco Fourth Amendment]

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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

[Signature page to Genco Fourth Amendment]

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DEUTSCHE BANK AG FILIALE

DEUTSCHLANDGESCHÄFT, as a Lender

By:

/s/ Tilman Stein

Name:

Tilman Stein

Title:

Director

By:

/s/ Scheller

Name:

Scheller

Title:

Director

[Signature page to Genco Fourth Amendment]

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DANISH SHIP FINANCE A/S, as a Lender

By:

/s/ Flemming Møller

Name:

Flemming Møller

Title:

EVP

By:

/s/ Ole Stærgaard

Name:

Ole Stærgaard

Title:

Senior Relationship Manager

[Signature page to Genco Fourth Amendment]

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CTBC BANK CO. LTD., as a Lender

By:

/s/ Ting Chen

Name:

Ting Chen

Title:

Senior Vice President

By:

Name:

Title:

[Signature page to Genco Fourth Amendment]

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