GNK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Including the $0.80 dividend for the second quarter of 2026, we have declared 28 consecutive quarterly dividends, which total $8.715 per share.

• ●The IMO is currently undertaking the second phase of its review of the EEXI, CII, and Ship Energy Efficiency Management Plan (“SEEMP”) framework. The review includes consideration of potential revisions to CII reduction factors, calculation methodologies, correction factors, and implementation requ…

• In May 2026, the IMO adopted amendments designating the North-East Atlantic as an Emission Control Area for sulfur oxides, particulate matter and nitrogen oxides. The amendments are expected to enter into force on September 1, 2027. Vessels operating within the area will be subject to more stringent…

• The United Kingdom (“UK”) government has confirmed the expansion of the UK Emissions Trading Scheme (“UK ETS”) to the maritime sector. The UK ETS Authority has published its final response, which provides for the following:

• ●The UK ETS maritime regime started on July 1, 2026 with the first reporting period running through December 31, 2026 and subsequent reporting periods on a full calendar year basis.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• On February 27, 2026, we entered into an amendment to upsize our existing $600 Million Revolver. Specifically, we utilized $80 million under the $300 million accordion feature to increase our borrowing capacity from $600 million to $680 million (the “$680 Million Revolver”). The increased borrowing …

• Including the $0.35 dividend for the first quarter of 2026, we have declared 27 consecutive quarterly dividends, which total $7.915 per share.

• The United Kingdom (“UK”) government has released its interim response on the expansion of the UK Emission Trading Scheme (“UK ETS”) to the maritime sector. The response notes the following:

• ●The UK ETS maritime regime will start on July 1, 2026 with the first reporting period running through December 31, 2026 and subsequent reporting periods on a full calendar year basis.

• These regulations are subject to change until the UK government and UK ETS Authority issue their final responses. Once issued, this response may provide clarity in respect of international voyage emissions which are intended to be included in the future.

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Below is an update to the risk factor entitled, “We are currently subject to a proxy contest seeking to replace all members of our Board of Directors, which could disrupt our business and adversely affect our results of operations.”

• While the proxy contest initiated by a stockholder to replace members of our Board of Directors ended at our 2026 Annual Meeting of Shareholders, the same stockholder initiated a tender offer that has since expired and continues to pursue a non-binding indicative offer to acquire the Company. These …

• and may continue to result in, substantial legal, advisory, and other professional fees and may result in increased volatility in the market price of our common stock.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• Below is an update to the risk factor entitled, “Military actions, terrorist attacks, and other acts of violence may have an adverse effect on our business.”

• In February 2026, the United States and Israel launched military operations against Iran, resulting in an armed conflict that has caused significant disruption to global energy markets and international shipping, including the effective closure of the Strait of Hormuz. In turn, these events have res…

• increased emphasis on energy security. The broader impact from this conflict on global GDP growth and in turn demand for raw materials that we carry remains uncertain.

• Below is an update to the risk factor entitled, “A downturn in the global economic environment may negatively impact our business.”

• Government intervention to reduce commodity exports, such as a cap to bauxite shipments originating from Guinea, could reduce cargo volumes and negatively impact freight rates.