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Genco cuts second-quarter losses on stronger voyage charter rates

Dry bulker owner has almost doubled its revenue to $86m while achieving a 31% jump in the average TCE rate to $10,964 in the three months. But ramped-up voyage expenses have offset the improvement in earnings

Update: The company is looking to sell 12 more vessels when values appreciate and hopes to complete its fleet renewal programme by the end of the year

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