Announcements
July 26, 2010

Kramer Levin Client General Maritime Corporation Completes $207 Million Equity Shelf Takedown

Kramer Levin client General Maritime Corporation announced on June 23, 2010 that it had completed a $207 million shelf offering of common stock which raised approximately $195.6 million in net proceeds for the Company. General Maritime intends to use all of the net proceeds from the offering to fund a portion of the purchase price for the acquisition of seven tankers, the first of which was delivered to General Maritime on July 2, 2010.

The Kramer Levin team was comprised of Thomas E. Molner, Terrence L. Shen, Jodi Rosensaft, Carol Archer, and Kelly Rau (Corporate), Kenneth Chin (Banking and Finance), and Barry Herzog (Tax).

General Maritime Corporation is a leading provider of international seaborne crude oil transportation services. General Maritime also provides transportation services for refined petroleum products. General Maritime’s vessels operate principally within the Atlantic basin, which includes ports in the Caribbean, South and Central America, the United States, West Africa, the Mediterranean, Europe and the North Sea. General Maritime also currently operates tankers in other regions including the Black Sea and Far East. Currently, General Maritime owns a fully double-hull fleet of 32 tankers - three VLCCs, eleven Suezmax tankers, twelve Aframax, two Panamax and four Handymax product tankers - with a total carrying capacity of approximately 4.2 million dwt. Following the completion of its acquisition of additional tankers, General Maritime expects to own a fleet of 38 double-hull tankers.

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