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NEW YORK ( TheStreet) -- Genco Shipping & Trading (NYSE: GNK) hit a new 52-week low Tuesday as it is currently trading at $3.70, below its previous 52-week low of $3.71 with 622,932 shares traded as of 3:40 p.m. ET. Average volume has been 1.7 million shares over the past 30 days. Genco Shipping & Trading has a market cap of $172.6 million and is part of the services sector and transportation industry. Shares are down 41.7% year to date as of the close of trading on Monday. Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide. It transports iron ore, coal, grain, steel products, and other drybulk cargoes.