General Maritime Corporation News

General Maritime, which had filed for Chapter 11 bankruptcy protection in November, said private equity firm Oaktree Capital Management will provide it with $175 million in new capital under its plan of reorganization.

A group of General Maritime Corp. noteholders opposed a request by the second-largest U.S. owner of oil tankers to borrow $75 million in bankruptcy.

Oil tanker company General Maritime Corp said it will file for Chapter 11 bankruptcy protection in a court in New York.

One of the world's best-known shipping groups, BW Maritime, has underlined the grim prospects facing oil tanker owners after it became the first owner to admit having laid up a ship out of service in the face of this year's slump in vessel charter rates.