Genco advances efficiency goals with selection of new technology partner

Genco Shipping & Trading Limited(Genco), a renowned provider of international seaborne dry bulk transportation services, has today announced its selection of Veson Nautical (Veson), a leading provider of commercial maritime software and services, as their technology partner to optimize business operations.

After over three years of carefully evaluating solutions, Genco arrived at Veson as the best fit for the company’s strategic objectives of increasing productivity and profitability. With the adoption of the Veson IMOS Platform (VIP), Genco looks to improve current processes and utilize standardized protocols within the platform to increase efficiencies and improve data analytics.

Rob Hughes, Captain and Chief Operations Officer at Genco said: “Ultimately, we felt that the Veson solution stood out – notably for us, it provided improved functions on the accounting module as well as more detailed data management on the voyage reporting side.”

Genco provides a full-service logistics solution for the transportation of key cargoes such as iron ore, grain, steel products, bauxite, cement, and nickel ore among other commodities along worldwide shipping routes. As of August 10, 2022, Genco’s modern dry bulk fleet consists of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,636,000 DWT and an average age of 10.6 years.

With such a vast operation running amidst building volatility and uncertainty in the industry and the world, CEO John Wobensmith and the Genco management team have been laser focused on the ability to unleash the potential of employees around the globe. The Veson IMOS Platform, which provides readily accessible data, easier maintenance, increased security protocols, and the ability to scale data storage, will provide comprehensive support to empower Genco’s multi-faceted workforce.

Rob Hughes added: “The future is bright with the bold step to team up with Veson. In the coming months, we look forward to bringing online the Veson IMOS Platform to unbridle our team members both afloat and ashore so we can align process with functionality. We are confident in securing our short-term efficiency goals and building upon those efficiencies in further collaboration between our companies.”

Jere Richardson, Chief Commercial Officer at Veson, said: “We are excited to welcome Genco to the Veson community, they are an impressive organization with a drive for and dedication to excellence. With the support of the Veson IMOS Platform and our diligent services teams, paired with Genco’s unique industry experience, we can unlock more efficient analysis and deeper insights, ultimately advancing Genco’s operations. I am looking forward to what we can achieve together in the near and long-term future.”