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Gener8 Maritime

Led by Peter Georgiopoulos, Gener8 is one of the world’s largest VLCC owners. The New York-based company resulted from the merger between General Maritime and Navig8 Crude Tankers, the latter sponsored by Navi8 Group, one of the largest pool managers worldwide. The company owned 30 vessels as of early May, including 21 VLCCs and other smaller ones. It is being acquired by Euronav.

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Gener8

NYSE: GNRT

CEO: Peter C. Georgiopoulos

View fleet data | View share price

Recent performance

Gener8 has stopped reporting its financial results as it is being acquired by Euronav.

The company’s sale to Euronav is expected to be completed by the end of June 2018.

Under the terms of the merger, there will be 0.7272 Euronav shares exchanged for each Gener8 share, leading to the issuance of about 60.9m new Euronav shares to the latter’s stakeholders. 

When completed, Euronav will own a 72% stake in the combined tanker giant, the world’s largest crude carrier by capacity, while Gener8 will own the rest, based on each company’s fully diluted share capitals.

Latest From Gener8

Euronav beats forecast and expects benefits from Gener8 merger

Update: Chief executive Paddy Rodgers describes scrubber installation as a rush to mine gold in the hills for some tanker owners, but not for Euronav just yet

Europe North America

The Interview: Paddy Rodgers

The Euronav chief executive has completed some of the largest deals in shipping this decade to push the Belgium-based tanker firm to become the industry’s top player. He believes bigger companies tend to serve their clients better

International Big Interview

Euronav completes merger with Gener8 Maritime

Euronav chief executive Paddy Rodgers says merger ‘provides the crude tanker market with a global player of substantial size’

Europe North America

Gener8 presents final results before merger vote

Gener8 is granted debt covenant waivers until June 30 after non-compliance with interest coverage ratio

North America United States

Euronav and Gener8 settle class action suits for merger

Merger plan to create the world’s largest crude carrier has removed a legal hurdle, but Gener8 director Nicolas Busch is yet to commit his support to the idea

US States Euronav

Gener8 withdraws aframaxes and VLCCs from Navig8 pools

Withdrawal of six aframaxes and 20 VLCCs will pave the way for the Gener8-Euronav merger

Belgium US States
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