General Maritime Corporation Announces Change to Board of Directors

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

28 Dec 2007

General Maritime Corporation announced Steve A. Kaplan has stepped down from the Company's Board of Directors effective December 21, 2007. Peter C. Georgiopoulos, Chairman, Chief Executive Officer and President, stated, "Steve has provided more than nine years of dedicated service to General Maritime and its predecessor companies. He has demonstrated an unwavering commitment to serving the interests of our shareholders during a time in which we significantly grew the Company and returned more than $1 billion to shareholders. On behalf of General Maritime, I would like to thank Steve for his valuable contributions and wish him the best in all future endeavors." Mr. Kaplan commented, "I am proud to have served on General Maritime's Board of Directors for more than six and a half years. Since its inception, General Maritime has built a successful track record in creating value for its shareholders. With a sound balance sheet, high-quality fleet, experienced management team, independent Board and leading industry reputation, the Company is well positioned to deliver strong returns to shareholders as it has done in the past." Following the departure of Mr. Kaplan, General Maritime will have a total of six Directors. The majority of the Company's Board remains independent with extensive experience in shipping, finance and the capital markets.General Maritime Corporation is a provider of international seaborne crude oil transportation services 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. The Company also currently operates tankers in other regions including the Black Sea and Far East. General Maritime Corporation currently owns and operates a fleet of 21 tankers -- 10 Aframax, 10 Suezmax tankers and 1 Suezmax newbuilding contracts -- making it one of the largest mid-sized tanker companies in the world, with a carrying capacity of approximately 2.8 million dwt.