UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 28, 2014 (March 26, 2014)

GENCO SHIPPING & TRADING LIMITED
(Exact Name of Registrant as Specified in Charter)

Republic of the Marshall Islands		001-33393		98-043-9758	
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)		(I.R.S. Employer
Identification No.)	

299 Park Avenue
12th Floor				10171	
(Address of Principal Executive Offices)		 		(Zip Code)	

Registrant's telephone number, including area code:  (646) 443-8550

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	

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Item 5.02	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.	

On March 26, 2014, Genco Shipping & Trading Limited (the "Company") entered into a letter agreement with John C. Wobensmith to amend his employment agreement with the Company dated September 21, 2007 (the "Genco Employment Agreement").  Mr. Wobensmith serves as the Company's Chief Financial Officer, Principal Accounting Officer, and Secretary.  Such letter agreement removes exceptions in the definition of Change of Control in the Genco Employment Agreement whereby certain acquisitions of the Company's stock or assets by Oaktree Capital  Management, LLC or its affiliates would not be deemed to be a change of control of the Company.  The exceptions were originally instituted at a time when an affiliate of Oaktree Capital Management, LLC was a significant shareholder of the Company and were deemed to be outdated.

On March 26, 2014, Baltic Trading Limited, a subsidiary of the Company ("Baltic Trading"), entered into a letter agreement with Mr. Wobensmith to amend his employment agreement with  Baltic Trading dated December 19, 2013 (the "Baltic Trading Employment Agreement").  Mr. Wobensmith serves as Baltic Trading's President, Chief Financial Officer, Principal Accounting Officer, Secretary and Treasurer.  The letter agreement amends the Baltic Trading Employment Agreement to incorporate the amended definition of Change of Control under the Genco Employment Agreement and to clarify the provision that provides that Mr. Wobensmith's annual incentive award for a given year includes the grant date value of any equity awards granted for such year if a termination without cause or resignation for good reason occurs within two years of a change in control of Baltic Trading.

Item 9.01.	Financial Statements and Exhibits	

(d) Exhibits:

	Exhibit No .	Description	

	10.1	Letter Agreement dated March 26, 2014 between Genco Shipping & Trading Limited and John C. Wobensmith .	

	10.2	Letter Agreement dated March 26, 2014 between Baltic Trading Limited and John C. Wobensmith.	

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, Genco Shipping & Trading Limited has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	GENCO SHIPPING & TRADING LIMITED	
 	DATE:   March 28, 2014	
 	 	
 	 /s/ John C. Wobensmith   	
 	 	
 	John C. Wobensmith	
 	Chief Financial Officer and Secretary  (Principal Financial and Accounting Officer)	

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EXHIBIT INDEX

	Exhibit No .	Description	

	10.1	Letter Agreement dated March 26, 2014 between Genco Shipping & Trading Limited and John C. Wobensmith .	

	10.2	Letter Agreement dated March 26, 2014 between Baltic Trading Limited and John C. Wobensmith.	
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Exhibit 10.1

GENCO SHIPPING & TRADING LIMITED
299 PARK AVENUE 
 12TH FLOOR 
 NEW YORK, NEW YORK 10171
646-443-8550

March 26, 2014

Mr. John Wobensmith
Genco Shipping & Trading Limited
299 Park Avenue, 12 th Floor
New York, New York 10171

Dear John:

The purpose of this letter is to confirm our understanding regarding an amendment to the agreement between you and Genco Shipping & Trading Limited ("Genco" or the "Company") dated September 21, 2007 (the "Agreement").  When fully executed, this letter shall constitute an amendment to the Agreement.  It is hereby agreed as follows:

1.              Section 7(a) of the Agreement is hereby amended by deleting the phrase "Oaktree Capital Management, LLC and its related entities or" from clause (i) of the definition of Change of Control and the phrase "Oaktree Capital Management, LLC or" from clause (ii) of such definition.
 
2.              Except as explicitly set forth herein, all terms and conditions contained in the Agreement shall remain in full force and effect.
 
3.              This letter and the Agreement contains the entire understanding between the parties on the subjects covered here and supersede all prior agreements, arrangements and understandings, whether written or oral, regarding the subjects covered here.  The Agreement may not be changed, or any of its provisions waived, orally, but only in writing signed by both parties.
 
 	Very truly yours,	
 	 	 	
 	GENCO SHIPPING & TRADING LIMITED	

 	By:	/s/ Robert Gerald Buchanan	
 	 	Robert Gerald Buchanan	
 	 	President	
ACCEPTED AND AGREED TO:	 	 	
 	 	 	
/s/ John Wobensmith	 	 	
John Wobensmith	 	 	
 	 	 	
Date:  March 26, 2014	 	 	

Exhibit 10.2

BALTIC TRADING LIMITED
299 PARK AVENUE, 12TH FLOOR
NEW YORK, NY 10171
646-443-8550

March 26, 2014

Mr. John Wobensmith
Baltic Trading Limited
299 Park Avenue, 12 th Floor
New York, New York 10171

Dear John:

The purpose of this letter is to confirm our understanding regarding an amendment to the agreement between you and Baltic Trading Limited ("Baltic Trading" or the "Company") dated December 19, 2013 (the "Agreement").  When fully executed, this letter shall constitute an amendment to the Agreement.  It is hereby agreed as follows:

1.              Section 1 of the Agreement is hereby deleted in its entirety and restated as follows:
 
Baltic Trading agrees to employ you and you agree to be employed by Baltic Trading upon the termination of your employment with Genco Shipping & Trading Limited ("Genco") following a Change in Control, as such term is defined in your employment agreement with Genco dated September 21, 2007, as amended by letter dated March 26, 2014 (the "Genco Agreement") (a "Genco Change in Control").  In the event of the foregoing, and provided that your employment with Genco terminates within eighteen (18) months of the Genco Change in Control, and subject to the terms and conditions of this Agreement, your employment with Baltic Trading shall commence on a date mutually agreed to by the parties (the "Effective Date").

2.              The third sentence of Section 6(c) is hereby deleted in its entirety and restated as follows:
 
In addition, with respect to a termination of your employment by you for Good Reason or by the Company without Cause (other than due to your death or Disability) upon or within two years of a Baltic Trading Change in Control (as defined in Section 7), your Annual Incentive Award shall also include the value on the date of grant of any equity awards granted to you for such year (other than the equity award described under Section 5(c)), which for stock options shall be the Black-Scholes value.

3.              Except as explicitly set forth herein, all terms and conditions contained in the Agreement shall remain in full force and effect.
 
4.              This letter and the Agreement contains the entire understanding between the parties on the subjects covered here and supersedes all prior agreements, arrangements and understandings, whether written or oral, regarding the subjects covered here.  The Agreement may not be changed, or any of its provisions waived, orally, but only in writing signed by both parties.
 
Kindly indicate your acceptance of this letter by signing and returning a signed original to me on or before March 28, 2014.

 	Very truly yours,	
 	 	 	
 	BALTIC TRADING LIMITED	

 	By:	/s/ John Wobensmith	
 	 	John Wobensmith	
 	 	President & Chief Financial Officer	
 	 	 	
ACCEPTED AND AGREED TO:	 	 	

/s/ John Wobensmith	 	 	
John Wobensmith	 	 	

3/26/14	 	 	
Date