Oil, Gas and Consumable Fuels
Company Overview of General Maritime Corp.
General Maritime Corporation, through its subsidiaries, provides transportation services for seaborne crude oil and refined petroleum products. It offers vessels primarily for charter on a spot voyage or time charter basis. As of March 10, 2012, the company’s fleet consisted of 33 vessels, including 7 very large crude carriers, 12 Suezmax vessels, 8 Aframax vessels, 2 Panamax vessels, and 1 Handymax vessel, as well as 3 chartered-in Handymax vessels. Its vessels have a total of 5.1 million deadweight ton carrying capacity on a combined basis. The company primarily serves oil companies, oil producers, oil traders, and vessel owners. It operates in the ports of the Caribbean, South and Central...
299 Park Avenue
New York, NY 10171
Founded in 1997
Key Executives for General Maritime Corp.
Principal Executive Officer
Manager and Commercial Director of General Maritime Management LLC
Compensation as of Fiscal Year 2013.
General Maritime Corp. Key Developments
General Maritime Corp. Presents at 4th Annual Marine Money London Ship Finance Forum, Jan-24-2013 11:25 AM
Dec 8 12
General Maritime Corp. Presents at 4th Annual Marine Money London Ship Finance Forum, Jan-24-2013 11:25 AM. Venue: The Dorchester, Park Lane, London, United Kingdom. Speakers: Jeffrey D. Pribor, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.
General Maritime Files Form 15
Aug 9 12
General Maritime Corp. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock of par value $.01 per share under the Securities Exchange Act of 1934, as amended.
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against General Maritime Corp
Jul 1 12
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of General Maritime Corp. between May 21, 2010 and November 16, 2011, inclusive. During the Class Period, GMR issued materially false and misleading statements and omitted to state material facts that rendered their affirmative statements misleading as they related to the company's financial performance, business prospects, and financial condition. As a result of these materially false and misleading statements, the price of the company's securities was artificially inflated during the Class Period. As the truth of the company's materially false and misleading statements entered the market, the company's stock plummeted. The complaint alleges that Defendants continually made false and materially misleading statements and omissions during the Class Period concerning the company's: liquidity; credit facilities; ability to meet its debt obligations; need to borrow money or seek alternative investments; and risk of not continuing as a going concern. The complaint further alleges that Defendants' scheme was to engage in a highly leveraged and speculative purchase of tankers - at the risk and expense of shareholders - based on management's opinion that tanker earnings would improve sharply. When tanker earnings actually declined, Defendants issued repeated false and misleading statements about GMR's liquidity and financial ability to take on the purchase of the tankers, in order to ensure that the company's stock would trade at inflated levels until the tanker earnings rebounded in their favor.
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