| Business Summary | | General
Maritime
Corporation
is
a
provider
of
international
crude
oil
transportation
services
within
the
Atlantic
Basin,
with
one
of
the
largest
fleets
of
Aframax
tankers
and
Suezmax
tankers
in
that
market.
Vessels
operating
in
the
Atlantic
Basin
primarily
serve
the
U.S.
oil
market.
The
Company's
fleet
consists
of
20
vessels
(15
Aframax
and
five
Suezmax
tankers)
with
a
total
cargo
capacity
of
more
than
2.1
million
dwt
(dead-weight
tons).
Of
the
20
tankers,
17
operate
in
the
Atlantic
Basin.
The
remaining
three
tankers,
given
their
ages,
currently
operate
outside
the
Atlantic
Basin.
The
average
age
of
the
Company's
Aframax
tankers
that
currently
operate
in
the
Atlantic
Basin
is
approximately
8.9
years,
compared
to
an
average
age
for
the
world
Aframax
tanker
fleet
of
approximately
11.5
years.
On
the
same
basis,
the
average
age
of
the
Company's
Suezmax
tankers
that
operate
in
the
Atlantic
Basin
is
9.8
years,
compared
to
an
average
age
for
the
world
Suezmax
tanker
fleet
of
12
years. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | General
Maritime
Corp.
is
a
provider
of
international
transportation
services
of
seaborne
crude
oil
within
the
Atlantic
Basin.
GMR's
fleet
is
comprised
of
both
Aframax
and
Suezmax
tankers.
For
the
six
months
ended
6/30/01,
revenues
rose
84%
to
$88.9
million.
Net
income
before
extraordinary
items
totalled
$32.7
million,
up
from
$6.2
million.
Revenues
reflect
the
growth
of
the
Company's
fleet
and
increased
tanker
rates.
Earnings
reflect
decreased
interest
rates
on
the
outstanding
debt. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Peter Georgiopoulos, 39 Chairman,
CEO | $115K | John Tavlarios, 39 Pres,
COO, Director | 120K | James Christodoulou, 40 CFO,
VP, Sec. | -- | John Georgiopoulos, 37 VP,
CAO, Treasurer | -- | John Mortsakis, 54 VP-Technical
Operations | -- | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|