35 West 56th Street
New York, NY 10019
CEO: Peter Georgiopoulos
Stock Symbol: GMR
General Maritime owns a fleet of oil tankers
and delivers crude oil to ports around the world. It is the second
largest operator of mid-sized tankers based on cargo capacity.
It transports oil within the Atlantic basin which includes ports
in the Caribbean, South and Central America, the United States,
West Africa, the Mediterranean, Europe and the North Sea. It
also currently operates tankers in other regions including the
Black Sea and Far East.
In fiscal 2004, the company had net income
of $315.1 million and revenues of $701.1 million.
General Maritime Corporation's fleet is
comprised of 43 wholly-owned tankers, consisting of 26 Aframax
and 17 Suezmax tankers, with a total carrying capacity of approximately
5.2 million deadweight tons, or dwt. The weighted average age
of the Company's fleet as of March 31, 2005 by dwt was 12.1 years
compared to 11.9 years as of March 31, 2004.
The weighted average age of the Company's
Aframax tankers was 12.6 years and the average age of the Company's
Suezmax tankers was 11.2 years.
Currently 15 of General Maritime Corporation's
Aframax tankers and 17 of its Suezmax tankers are operating on
the spot market. 26% of the Company's fleet, 11 Aframax tankers
and none of the Company's Suezmax tankers, are currently under
time charter contracts, compared to 25% under time charter contract
as of March 31, 2004.
The average charter rate during the first
quarter was $37,334 per day.
The company was founded in 1997 by CEO
Updated June 29, 2005