General Maritime Corporation operates crude oil tankers, mostly in the Atlantic Ocean and in the Caribbean, Mediterranean, Black, and North Seas. Founded in 1997 by current CEO Peter Georgiopoulos, as of 2004 the company is the second largest (based on cargo capacity) operator of mid-size tankers. In 2003 the company gross revenues were 454 million US dollars and they had 345 employees. Their stock is traded on the New York Stock Exchange, using ticker symbol GMR.
There are currently 42 ships in the fleet; the fleet grew over 50% in 2003. The first name of every ship in the fleet is a contraction of the company name, "Genmar". The fleet is fairly new, with only 10 built before 1990, and the oldest built in March 1985. Most of the fleet is double-hulled or double-sided; only 9 are single-hulled, after recently selling two single-hulled boats. Twenty-three are in the Aframax size category (75,000 — 110,000 Deadweight tons (DWT)), and 19 are in the Suezmax class (110,000 — 150,000 DWT).
GeneralMaritime, whose clients include Chevron, CITGO, Exxon-Mobil, Phillips and Texaco, is deploying Triple Point Commodity XL to improve the trading of physical and derivatives contracts involving its fleet of tankers.
About GeneralMaritimeCorporationGeneralMaritimeCorporation is a provider of international seaborne crude oil transportation services principally 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.
GeneralMaritimeCorporation currently owns and operates a fleet of tankers - 26 Aframax and 17 Suezmax tankers and 4 Suezmax new-building contracts - making it the second largest mid-sized tanker company in the world with a carrying capacity of approximately 5.9 million deadweight tons (dwt).
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