General Maritime Signs Contract With Shell International

Thursday, January 08, 2004
General Maritime Corporation entered into a contract of affreightment (COA) agreement with Shell International Trading and Shipping Company Limited (STASCO), the principal trading and shipping business of the Royal Dutch/Shell Group. The contract gives General Maritime the opportunity to transport STASCO oil cargos for its Aframax and Suezmax fleet in the Western Hemisphere. Peter C. Georgiopoulos, Chairman, Chief Executive Officer and President, commented, "General Maritime's success at signing this agreement with Shell underscores the quality of the company's fleet and operations as well as its leadership position in the mid-sized tanker industry. With this contract, General Maritime continues to position the company to enhance shareholder value as we further penetrate areas of expanding global oil production, solidify our leadership in the Atlantic Basin and enhance our already strong utilization rates." Since the beginning of 2004, General Maritime has already confirmed liftings for Shell International Trading and Shipping Company Limited under the contract. John P. Tavlarios, President of General Maritime Management LLC, commented, "We continue to realize the benefits of operating the second largest mid-sized tanker fleet and are pleased to have further strengthened our relationship with Shell. We intend to continue to take advantage of the Company's leadership position and seek opportunities to sign additional COA's in the future that add enduring value to the company."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Contracts

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1748 sec (6 req/sec)