Genco Shipping & Trading is positioned with ample liquidity that puts it in a position to take advantage of buying opportunities, an analyst and company executive said after the company's earnings report.

Clarksons Platou Securities' John Gandolfo said the bulker owner  some $180m in cash on its balance sheet against $526m in debt. 

"Assuming the application of a modest 50% leverage to potential acquisitions and based on Clarksons current assessments of $32m for a five-year-old capesize, we project the capacity for the company to comfortably take on a potential seven to eight five-year-old capes in the current market environment," he said.