General Maritime May Buy More Tankers

Maritime Activity Reports, Inc.

July 23, 2010

According to a July 22 report from Bloomberg, General Maritime Corp., which just bought five supertankers, may buy more vessels amid low ship prices. Prices of five-year-old very-large crude carriers, or VLCCs, averaged $92.7m in the week ended July 19, according to the London-based Baltic Exchange. Prices were 43% lower than the record high of $162m reached in August 2008, though they have gained 20% this year.

(Source: Bloomberg)

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News