Seaborne Crude Oil Transportation Services News

Tanker operators Euronav NV said that it remains confident of closing a takeover of the U.S.-based provider of international seaborne crude oil transportation services Gener8 Maritime in the next three months. On 21 December 2017 the boards of Euronav and Gener8 Maritime announced agreement on a stock-for-stock merger for the entire issued and outstanding share capital of Gener8 pursuant to which Gener8 would become a wholly-owned subsidiary of Euronav (the Combined Entity). "Work on the transaction is proceeding as planned with an anticipated closing in the second quarter of 2018," said a statement from the company. The merger will create the leading independent large crude tanker operator with 75 crude tankers…

Gener8 Maritime, Inc. a leading U.S.-based provider of international seaborne crude oil transportation services, announced that it took delivery of the "ECO" VLCC the Gener8 Miltiades on October 25, 2016 from Shanghai Waigaoqiao Shipbuilding Co. Ltd. ("SWS"). The Gener8 Miltiades  represents the sixteenth of 21 "ECO" VLCCs expected to be delivered into Gener8 Maritime's fleet. Upon delivery, the Gener8 Miltiades entered Navig8 Group's VL8 Pool. The Gener8 Miltiades is the sixth "ECO" VLCC delivered by SWS to Gener8 Maritime, concluding our newbuilding program with the yard.

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it took delivery of two very large crude carriers (VLCC).   The Gener8 Perseus was delivered September 9, 2016 from Hyundai Heavy Industries Co., Ltd., and the Gener8 Oceanus on September 12, 2016 from Hyundai Samho Heavy Industries Co., Ltd. Upon delivery, both tankers entered Navig8 Group's VL8 Pool.   The two new tankers represent vessels 14 and 15 of 21 "ECO" VLCCs ordered for the Gener8 Maritime fleet. The shipper has on order four more VLCCs anticipated for delivery in 2016 and two for 2017.

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it has taken delivery of the ECO VLCC the Gener8 Macedon on August 30, 2016 from Hyundai Samho Heavy Industries Co., Ltd.   The Gener8 Macedon represents the 13th of 21 ECO VLCCs expected to be delivered into Gener8 Maritime's fleet.    Upon delivery, the Gener8 Macedon entered Navig8 Group's VL8 Pool.

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27, 2016 from Hyundai Samho Heavy Industries Co. Ltd.   The Gener8 Constantine represents the 11th of 21 ECO VLCCs expected to be delivered into Gener8 Maritime's fleet.   Upon delivery, the Gener8 Constantine entered Navig8 Group's VL8 Pool.

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it took delivery of the ECO VLCC the Gener8 Nautilus on April 20, 2016 from Hyundai Samho Heavy Industries Co., Ltd. The Gener8 Nautilus represents the ninth of 21 ECO VLCCs expected to be delivered into Gener8 Maritime's fleet.  Upon delivery, the Gener8 Nautilus entered Navig8's VL8 Pool.

Gener8 Maritime, Inc. involved in international seaborne crude oil transportation services, today announced that it took delivery of the ECO VLCC Gener8 Neptune from Daewoo Shipbuilding & Marine Engineering on September 11, 2015.  The Gener8 Neptune represents the first of 21 "ECO" VLCCs expected to be delivered into Gener8 Maritime's fleet. Upon delivery, the Gener8 Neptune will be entered into Navig8's VL8 Pool.

Online ships data platform VesselsValue.com has rounded up the top spenders in terms of second hand tonnage for the first half of 2015. Leading the industry in total amount spent on second hand tonnage so far in 2015 is U.S.-based Gener8 Maritime, who spent roughly $1.4 billion on 14 vessels. The seaborne crude oil transportation services company formed earlier this year as result of a merger between General Maritime Corporation and Navig8 Crude Tankers Inc. Second in spending was the Malaysian headquartered tanker shipping group MISC who spent about $1.065 billion on five second hand vessels.

General Maritime Corporation (GMR) announced that Historic General Maritime and Arlington Tankers Ltd. have completed their combination to form public company to be known as General Maritime Corporation (formerly known as Galileo Holding Corporation). In accordance with the terms of their merger agreement, Historic General Maritime and Arlington each became wholly-owned subsidiaries of General Maritime. All outstanding shares of both companies were exchanged for shares of General Maritime. Arlington shareholders are entitled to receive one share of General Maritime common stock for each share of Arlington common stock they held immediately prior to the effective time of the combination…

General Maritime Corporation (NYSE:GMR) announced that a jury in the Southern District of Texas federal court returned guilty verdicts against two vessel officers of the Genmar Defiance, one of the company's wholly-owned Aframax vessels, and GMM Portugal, a subsidiary of the company, on two counts for violating the Act to Prevent Pollution from Ships and 18 USC 1001, respectively, in connection with an investigation and trial previously reported by the company relating to potential failures by shipboard staff to properly record discharges of bilge waste during the period of November 24, 2007 through November 26, 2007. The company intends to appeal the guilty verdicts and to make motions for a judgment of acquittal and a new trial.