UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. 3)

                        Genco Shipping & Trading Limited
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   Y2685T 10 7
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2008
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

          [_]  Rule 13d-1(b)

          [_]  Rule 13d-1(c)

          [X]  Rule 13d-1(d)

----------
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

     The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).


CUSIP No. Y2685T 10 7
          -----------

1.   NAME OF REPORTING PERSONS

     Fleet Acquisition LLC

2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                         (a) [_]
                                                                         (b) [X]

3.   SEC USE ONLY

4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Republic of the Marshall Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5.   SOLE VOTING POWER

     0

6.   SHARED VOTING POWER

     443,606

7.   SOLE DISPOSITIVE POWER

     0

8.   SHARED DISPOSITIVE POWER

     443,606

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     443,606

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     (SEE INSTRUCTIONS)
                                                                             [_]

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     1.4%

12.  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     CO


CUSIP No. Y2685T 10 7
          -----------

1.   NAME OF REPORTING PERSONS

     Peter C. Georgiopoulos

2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                         (a) [_]
                                                                         (b) [X]

3.   SEC USE ONLY

4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     United States

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5.   SOLE VOTING POWER

     0

6.   SHARED VOTING POWER

     443,606 (1)

7.   SOLE DISPOSITIVE POWER

     0

8.   SHARED DISPOSITIVE POWER

     443,606 (1)

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     443,606 (1)

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     (SEE INSTRUCTIONS)
                                                                             [_]

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     1.4%

12.  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     IN


CUSIP No. Y2685T 10 7
          -----------

Item 1(a).  Name of Issuer:

            Genco Shipping & Trading Limited
            --------------------------------------------------------------------

      (b).  Address of Issuer's Principal Executive Offices: 299 Park Avenue

            New York, New York  10171
            --------------------------------------------------------------------

Item 2(a).  Name, Principal Business Address, and Citizenship of Persons Filing:

            Fleet Acquisition LLC - Republic of the Marshall Islands
            299 Park Avenue
            New York, New York  10171

            Peter C. Georgiopoulos - United States
            299 Park Avenue
            New York, New York 10171
            --------------------------------------------------------------------

      (d).  Title of Class of Securities:

            Common Stock
            --------------------------------------------------------------------

      (e).  CUSIP Number:

            Y2685T 10 7
            --------------------------------------------------------------------

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b) or Rule
        13d-2(b), or (c), check whether the person filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Act;

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Act;

     (c)  [_]  Insurance company as defined in Section 3(a)(19) of the Act;

     (d)  [_]  Investment company registered under Section 8 of the Investment
               Company Act;

     (e)  [_]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f)  [_]  An employee benefit plan or endowment fund in accordance with
               Rule 13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent holding company or control person in accordance with
               Rule 13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings association as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

     (i)  [_]  A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;

     (j)  [_]  A non-U.S. institution in accordance with Rule
               13d-1(b)(1)(ii)(J);

     (k)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

Item 4.  Ownership.

     Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

     (a)  Amount beneficially owned:

          Fleet Acquisition LLC - 443,606
          Peter C. Georgiopoulos - 443,606 (1)
          ----------------------------------------------------------------------

     (b)  Percent of class:

          Fleet Acquisition LLC - 1.4%
          Peter C. Georgiopoulos - 1.4%
          ----------------------------------------------------------------------

     (c)  Number of shares as to which the person has:

          (i)  Sole power to vote or to direct the vote:

               Fleet Acquisition LLC - 0
               Peter C. Georgiopoulos - 0

          (ii) Shared power to vote or to direct the vote:

               Fleet Acquisition LLC - 443,606
               Peter C. Georgiopoulos - 443,606 (1)

         (iii) Sole power to dispose or to direct the disposition of:

               Fleet Acquisition LLC - 0
               Peter C. Georgiopoulos - 0

          (iv) Shared power to dispose or to direct the disposition of:

               Fleet Acquisition LLC - 443,606
               Peter C. Georgiopoulos - 443,606

Item 5.  Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].

          ----------------------------------------------------------------------

Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

     If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.

          N/A
          ----------------------------------------------------------------------

Item 7. Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported on by the Parent Holding Company or Control
        Person.

     If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.

          N/A
          ----------------------------------------------------------------------

Item 8.  Identification and Classification of Members of the Group.

     If a group has filed this schedule pursuant to Rule 13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the
identity of each member of the group.

          N/A
          ----------------------------------------------------------------------

Item 9.  Notice of Dissolution of Group.

     Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.

          N/A
          ----------------------------------------------------------------------

Item 10.  Certification.

          N/A
          ----------------------------------------------------------------------


                                    SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Fleet Acquisition LLC

By: /s/ Peter C. Georgiopoulos
    --------------------------
    Peter C. Georgiopoulos


/s/ Peter C. Georgiopoulos
--------------------------
Peter C. Georgiopoulos

February 12, 2009

*    The Reporting Persons disclaim beneficial ownership in the shares reported
     herein except to the extent of their pecuniary interest therein.

(1)  Mr. Georgiopoulos disclaims beneficial ownership of these securities except
     to the extent of his pecuniary interest therein, and the inclusion of these
     securities in this report shall not be deemed to be an admission that Mr.
     Georgiopoulos has beneficial ownership of such securities for purposes of
     Section 16 of the Securities Exchange Act of 1934, as amended, or any other
     purpose.


                                                                    Exhibit 99.1

                             JOINT FILING AGREEMENT

     The undersigned hereby agree that they are filing this statement jointly
pursuant to Rule 13d-1(k)(1). Each of them is responsible for the timely filing
of such Schedule 13G and any amendments thereto, and for the completeness and
accuracy of the information concerning such person contained therein; but none
of them is responsible for the completeness or accuracy of the information
concerning the other persons making the filing, unless such person knows or has
reason to believe that such information is inaccurate.

     In accordance with Rule 13d-1(k)(1) promulgated under the Securities and
Exchange Act of 1934, as amended, the undersigned hereby agree to the joint
filing with each other on behalf of each of them of such a statement on Schedule
13G with respect to the common stock beneficially owned by each of them. This
Joint Filing Agreement shall be included as an exhibit to such Schedule 13G.


Fleet Acquisition LLC

By: /s/ Peter C. Georgiopoulos
    -------------------------
    Peter C. Georgiopoulos


/s/ Peter C. Georgiopoulos
--------------------------
Peter C. Georgiopoulos

February 12, 2008

*    The Reporting Persons disclaim beneficial ownership in the shares reported
     herein except to the extent of their pecuniary interest therein.



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