View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
June 10, 2010

General Maritime Acquires Seven Tankers

General Maritime has signed a contract worth around $620m with Metrostar Management to acquire five very large crude carriers (VLCCs) and two Suezmax tankers. The crude oil tanker operator said the acquisition of the VLCCs, all built between 2002 and 2010, was expected to further improve

By cms admin

General Maritime has signed a contract worth around $620m with Metrostar Management to acquire five very large crude carriers (VLCCs) and two Suezmax tankers.

The crude oil tanker operator said the acquisition of the VLCCs, all built between 2002 and 2010, was expected to further improve the company’s presence in the VLCC market.

The vessels will join the company’s fleet of 38 double-hull tankers with a total carrying capacity of around six million dwt.

Nordea Bank and DnB NOR are financing $372m of the purchase price for the seven vessels.

Various alternatives are being considered to finance the remaining portion of the acquisitions, the company said.

General Maritime said the seven vessels are expected to be delivered between July 2010 and April 2011.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology