General Maritime to Acquire Aframax Vessels

Monday, May 12, 2008

General Maritime Corporation has agreed to acquire two 2002-built double hull Aframax vessels from or its affiliates for an aggregate purchase price of $137 million. The Company expects to take delivery of the two double hull vessels, subject to customary closing conditions, between July and October 2008. General Maritime plans to finance the acquisition through borrowings under its $900 million revolving credit facility and cash from operations.

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