General Maritime Signs Contract With Shell International
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.
General Maritime to Sell Nine Tankers
tankers en bloc to Tanker Pacific for $247.5 million. realize a net gain of $16.6 million from the sale. may consider. June 2006. the average age of General Maritime's fleet will be reduced to 7.5 years. Ltd. operated by General Maritime Management (Portugal) Lda. Management LLC.
New Alliance Forms UOCC
United Overseas Tankers Ltd. (UOT), a General Maritime Corporation wholly-owned subsidiary, has entered into a alliance with Columbia Shipmanagement Ltd. to provide crew management services for all of General Maritime's vessels. The alliance will be named United Overseas Columbia Crewing Ltd. (UOCC) and will be responsible for such services as crew recruitment, training, payroll and quality control management. John P. Tavlarios, President and Chief Executive Officer of General Maritime Management LLC, commented, "The formation of United Overseas Columbia Crewing Ltd. is a further extension of our commitment to maintaining operational excellence. Through the relationship with Columbia Shipmanagement Ltd.
