# EDGAR Filing Document

**Accession Number:** 0001318885
**File Stem:** 0000919574-26-000386
**Filing Date:** 2026-1
**Character Count:** 15394
**Document Hash:** 89ee04e7a7ab88e11a0c53e20b59c0c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-26-000386.hdr.sgml**: 20260116

**ACCESSION NUMBER**: 0000919574-26-000386

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260116

**DATE AS OF CHANGE**: 20260116

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GENCO SHIPPING & TRADING LTD
- **CENTRAL INDEX KEY:** 0001326200
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-81128
- **FILM NUMBER:** 26540321

**BUSINESS ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171
- **BUSINESS PHONE:** (646) 443-8550

**MAIL ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIANA SHIPPING INC.
- **CENTRAL INDEX KEY:** 0001318885
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** PENDELIS 16
- **STREET 2:** 175 64 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000
- **BUSINESS PHONE:** 30-210-947-0100

**MAIL ADDRESS:**
- **STREET 1:** PENDELIS 16
- **STREET 2:** 175 64 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000

## Ex-99

**Exhibit (g)**

![](image_009.jpg)

GENCO SHIPPING & TRADING LIMITED

299 PARK AVENUE

12TH FLOOR

NEW YORK, NEW YORK 10171 646-443-8550

**VIA EMAIL**

January 15, 2026

Diana Shipping Inc.

c/o Diana Shipping Services S.A.

Pendelis 16, 175 64 Palaio Faliro, Athens, Greece Attention: Ms. Semiramis Paliou and Mr. Ioannis Zafirakis

Re: Non-Binding Indicative Proposal of Diana Shipping Inc. ("Diana")

Dear Semiramis and Ioannis:

We write on behalf of the Board of Directors of Genco as a follow-up to our previous communication regarding your proposal for a potential transaction involving Genco's shares.

In our last correspondence, we indicated that Genco would not be interested in engaging further on your specific proposal following the Board's unanimous determination that the proposal is not in the best interest of Genco shareholders. We continue to believe that the constraints embedded in your proposed approach are unlikely to result in an attractive transaction for Genco and its shareholders.

As we detailed in our prior letter, we view a more compelling combination to be for Genco to acquire Diana at a premium to Diana's current share price, paid for with a mix of cash and Genco shares.

We believe a Genco-led structure will create greater value and stability for the combined enterprise, and we encourage Diana to explore such a framework with us. Our Board believes its proposed transaction structure would create value for both Diana and Genco shareholders. Diana investors would obtain immediate and significant certain cash value. In addition, they would benefit from our superior equity and have the opportunity to participate in the upside potential of a combined company, operating in a strong drybulk market with positive fundamentals, which will build on Genco's strong operating platform and low leverage, high capital return business model.

We continue to seek a constructive dialogue with you and hope you will engage with us in private, good-faith discussions, free from the complications of public exchanges. We look forward to your response and the opportunity to work together toward a successful and mutually beneficial outcome.

Sincerely,

---

| | |
|:---|:---|
| &nbsp;&nbsp;/s/ John C. Wobensmith | &nbsp;&nbsp;/s/ Kathleen C. Haines |
| &nbsp;&nbsp;John C. Wobensmith | &nbsp;&nbsp;Kathleen C. Haines |
| &nbsp;&nbsp;Chairman of the Board and Chief Executive Officer | &nbsp;&nbsp;Lead Independent Director |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**GENCO SHIPPING & TRADING LTD**

*(Name of Issuer)*

**Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**Y2685T131**

*(CUSIP Number)*

**Mr. Ioannis Zafirakis**<br>Pendelis 16<br>Palaio Faliro<br>Athens J3 175 64<br>30-210-947-0100

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/16/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **Y2685T131** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**DIANA SHIPPING INC.** | Name of reporting person<br>**DIANA SHIPPING INC.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**BK** | Source of funds (See Instructions)<br>**BK** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**1T** | Citizenship or place of organization<br>**1T** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**6413151.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**6413151.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6413151.00** | Aggregate amount beneficially owned by each reporting person<br>**6413151.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**14.8%** | Percent of class represented by amount in Row (11)<br>**14.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Calculated based on 43,243,165 shares of common stock, par value $0.01 per share, of the Issuer outstanding as of November 5, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 5, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
GENCO SHIPPING & TRADING LTD

**(c) Address of Issuer's Principal Executive Offices:**
299 PARK AVENUE, 12TH FLOOR, New York, NY, 10171

This Amendment No. 5 (this "Amendment") amends and supplements, to the extent set forth herein, the statement on Schedule 13D originally filed by Diana Shipping Inc. ("Diana" or the "Reporting Person") with the Securities and Exchange Commission (the "SEC") on July 17, 2025 (the "Original Schedule 13D"), as amended by Amendment No. 1 thereto filed on July 31, 2025 ("Amendment No. 1"), Amendment No. 2 thereto filed on September 30, 2025 ("Amendment No. 2"), Amendment No. 3 thereto filed on November 24, 2025 ("Amendment No. 3"), and Amendment No. 4 thereto filed on January 13, 2026 ("Amendment No. 4" and, collectively with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3 and this Amendment, the "Current Schedule 13D"). Except as expressly provided herein, this Amendment does not modify the information previously reported on the Current Schedule 13D. Capitalized terms not otherwise defined in this Amendment shall have the meaning ascribed to them in the Current Schedule 13D. This Amendment relates to the shares of common stock (the "Shares"), par value $0.01 per share, of Genco Shipping & Trading Limited, a Marshall Islands corporation (the "Issuer").

**Item 4. Purpose of Transaction**

Item 4 of the Current Schedule 13D is hereby amended and supplemented to add the following:

As previously disclosed in Amendment No. 3, on November 24, 2025, the Reporting Person submitted a non-binding proposal (the "Proposal") to the board of directors of the Issuer to acquire all of the issued and outstanding Shares not already owned by the Reporting Person for a cash consideration of US$20.60 per share (the "Proposed Transaction"). On January 8, 2026, as previously disclosed in Amendment No. 4, the Issuer's Board of Directors notified the Reporting Person that it had rejected the Proposal and suggested a counterproposal for the Issuer to acquire the Reporting Person. On January 15, 2026, the Reporting Person received a second letter from the Issuer's Board of Directors reiterating its rejection of the Proposal, a copy of which is attached as Exhibit G to this Amendment and is incorporated herein by reference. The Reporting Person continues to believe that the Issuer's counterproposal is not actionable.

On January 16, 2026, following the Issuer's continued refusal to meaningfully engage with the Reporting Person on its Proposal, the Reporting Person delivered a notice to the Issuer to (1) submit, at the Issuer's upcoming 2026 Annual Meeting of Shareholders (the "Annual Meeting"), proposals to repeal prospective amendments to the Issuer's By-Laws and to conduct a process to explore strategic alternatives for the Issuer in order to maximize shareholder value, and (2) to nominate a slate of six highly-qualified director candidates (the "Nominees") for election to the Issuer's Board of Directors at the Annual Meeting. On January 16, 2026, the Reporting Person issued a Press Release to announce the nominations, which is attached as Exhibit H to this Amendment and incorporated herein by reference.

Additional information concerning the Nominees is set forth below:

Gustave Brun-Lie, age 73, has nearly 40 years of experience in the shipping industry. Mr. Brun-Lie has served as a board member for a number of companies across the shipping industry, including Wilhelmsen Ship Management, R S Platou, and Torvik's Rederi. Mr. Brun-Lie recently acted as CEO of Statt Torsk AS until February 2024, when the company merged with Vesteralen Havbruk. Mr. Brun-Lie also serves as an advisor to the Royal Norwegian Navy in connection with shipbuilding among Norwegian shipyards. Mr. Brun-Lie earned a B.A. from the Royal Norwegian Naval Academy.

Chao Sih Hing Francois, age 48, has served as a director of Wah Kwong since February 2015, having served as Deputy Chairman from January 2019 to September 2019, and has held the position of Executive Chairman since September 2019. He is the Co-founder and Chairman of the Hong Kong Chamber of Shipping, and Board Director of the Global Maritime Forum. In driving international and regional industry collaboration, Hing is the Chairman of Bureau Veritas Global Marine and Offshore Advisory Council and Chairman of RINA's Asia Decarbonisation Committee. He is also a founder and convenor of the Greater Bay Maritime Forum and was appointed a committee member of the Consultative Committee on Guangdong-Hong Kong Co-operation (Guanghzhou Nansha). In addition, Hing is a trustee of the Hong Kong Maritime Museum, Honorary President of Institute of Seatransport, the Chairman of Port Welfare Committee of the Marine Department of the Hong Kong SAR Government, and a member of The Hong Kong Committee of Nippon Kaiji Kyokai. Mr. Hing Chao also serves as a director to the Global Maritime Forum. Mr. Hing Chao holds a B.A. in philosophy from Durham University.

Paul Cornell, age 67, has more than 35 years of experience in the energy industry and, prior to his retirement in 2023, served as CFO and Managing Director of Quintana Capital Group.  Mr. Cornell also previously held positions of Managing Director and Chief Financial Officer of Quintana and Quintana Capital Group, where he was involved in the process of taking Quintana Maritime Ltd. public on Nasdaq in 2005 while acting as Chief Financial Officer and a member of the Board of Directors. Mr. Cornell's experience on corporate boards includes service for Quintana Shipping Ltd., Talen's Marine Fuel, AmerCable Holdings, Quality Magnetite LLC, Quintana Minerals Canada, and Excel Maritime Carriers, Ltd.  Mr. Cornell earned a B.B.A. from Niagara University.

Jens Ismar, age 68, has extensive experience working for multiple companies in the shipping industry, serving as CEO of Western Bulk for 11 years and as Executive Director and consultant for Exmar Shipping NV. Additionally, Mr. Ismar has been a director of Awilco LNG since May 2025. Mr. Ismar earned a B.A. in Business Administration from Lund University in Sweden.

Viktoria Poziopoulou, age 63, is an experienced lawyer with approximately 35 years of experience in the shipping industry.  From May 2019 to June 2024, Ms. Poziopoulou served as the General Counsel of Pavimar S.A., a ship management company based in Athens specializing in the management of dry bulk vessels. In this capacity, Ms. Poziopoulou  was responsible for all legal aspects of Pavimar's business, including but not limited to the corporate legal structure and shareholding of the companies managed by the group, the sale and purchase of vessels, the debt and equity ship financing of the managed vessels, the joint venture agreements of the group, all insurance covers of the managed vessels and all disputes, negotiations or litigation affecting them.  Prior to Pavimar, Ms. Poziopoulou serves as General Counsel of Quintana Shipping Ltd. and Excel Maritime Carriers Ltd., a NYSE-listed dry bulk shipping company. Ms. Poziopoulou is a graduate of Athens Law School and obtained a Masters in Law from Queen Mary University, London.

Quentin Soanes, age 71, has significant experience in the shipping industry, having previously served as Chairman of Baltic Exchange and Executive Director of Braemar Shipping Services PLC (now Braemar PLC).  Mr. Soanes is currently the Executive Chairman of Sterling Shipping Services LTD, where he has been employed since 2014. Mr. Soanes earned a B.A. Honours Degree from the University of London.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Current Schedule 13D is hereby amended and supplemented to add the following:

The description set forth in Item 4 of this Amendment is incorporated herein by reference in its entirety.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** DIANA SHIPPING INC.

**Signature:** /s/ Ioannis Zafirakis

**Name/Title:** Ioannis Zafirakis, Authorized Representative

**Date:** 01/16/2026