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	<title>Marine Money Archives &#187; General Maritime</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>Not Pretty – Genmar Obtains Waiver</title>
		<link>http://www.marine-money.com/archive/not-pretty-%e2%80%93-genmar-obtains-waiver</link>
		<comments>http://www.marine-money.com/archive/not-pretty-%e2%80%93-genmar-obtains-waiver#comments</comments>
		<pubDate>Thu, 06 Oct 2011 15:30:40 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Oaktree Capital Management]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11109</guid>
		<description><![CDATA[While it comes as no surprise given the state of the market, General Maritime announced on Monday, after the market closed, that it had reached agreement with its lenders to waive the $35 million minimum cash balance covenant under its $550 million revolving credit facility, its $372 million term loan facility and its $200 million Oaktree Capital Management facility through November 10, 2011 unless an event of default occurs under any of those facilities prior to that date.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/not-pretty-%e2%80%93-genmar-obtains-waiver/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Eagle Bulk Gets its’ Own Knowledgeable Investor</title>
		<link>http://www.marine-money.com/archive/eagle-bulk-gets-its%e2%80%99-own-knowledgeable-investor</link>
		<comments>http://www.marine-money.com/archive/eagle-bulk-gets-its%e2%80%99-own-knowledgeable-investor#comments</comments>
		<pubDate>Thu, 04 Aug 2011 19:20:40 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Oaktree Capital]]></category>
		<category><![CDATA[Peter Georgiopoulos]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10542</guid>
		<description><![CDATA[Oaktree Capital, the seasoned shipping industry player has reported last week that it had purchased 4,900,000 shares of Eagle Bulk through a number of its’ controlled funds. The purchase equates to 7.8% of Eagle shares. The investment is just one of several the group has made in shipping, the most notable perhaps being its close and profitable relationship with Peter Georgiopoulos and General Maritime.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/eagle-bulk-gets-its%e2%80%99-own-knowledgeable-investor/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Meeting Its Obligations</title>
		<link>http://www.marine-money.com/archive/meeting-its-obligations-2</link>
		<comments>http://www.marine-money.com/archive/meeting-its-obligations-2#comments</comments>
		<pubDate>Thu, 12 May 2011 15:46:31 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[General Maritime]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10329</guid>
		<description><![CDATA[In order to satisfy its obligations under the registration rights agreement, General Maritime announced yesterday that it had commenced an exchange offer to exchange up to $300 million principal amount of newly issued 12% Senior Notes due 2017 (“Series B Notes”), registered under the Securities Act of 1933 for a like principal amount of its privately placed outstanding 12% Senior Notes due 2017 sold in November 2009 (“Series B Notes”). The notes are identical in all material respects except that the Series B notes have been registered with the SEC and will not contain terms that restrict transfer or registration rights. The offer will not affect debt levels nor will the company receive any proceeds from the exchange.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/meeting-its-obligations-2/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Busy Week in the Capital Markets</title>
		<link>http://www.marine-money.com/archive/busy-week-in-the-capital-markets</link>
		<comments>http://www.marine-money.com/archive/busy-week-in-the-capital-markets#comments</comments>
		<pubDate>Thu, 31 Mar 2011 14:52:29 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BoA Merrill Lynch]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Credit Suisse]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[Danaos]]></category>
		<category><![CDATA[Deutsche]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[DryShips]]></category>
		<category><![CDATA[Evercore]]></category>
		<category><![CDATA[Fredriksen]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Golar]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[Mr. Georgiopoulos]]></category>
		<category><![CDATA[Ms. Frangou]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Oak Tree]]></category>
		<category><![CDATA[S. Goldman]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10220</guid>
		<description><![CDATA[Congratulations to a Whole Host of Principals and Professionals!]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/busy-week-in-the-capital-markets/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Large Weight Lifted – Genmar Sale-leaseback</title>
		<link>http://www.marine-money.com/archive/a-large-weight-lifted-%e2%80%93-genmar-sale-leaseback</link>
		<comments>http://www.marine-money.com/archive/a-large-weight-lifted-%e2%80%93-genmar-sale-leaseback#comments</comments>
		<pubDate>Thu, 20 Jan 2011 16:33:41 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Northern Shipping Funds]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10082</guid>
		<description><![CDATA[What began last quarter as an attempt by General Maritime (“Genmar”) to sell a VLCC to meet the terms of its $22.8 million bridge loan from DnB NOR and Nordea, ended this week with a sale of three unencumbered MR product tankers from the former Arlington fleet to affiliates of Northern Shipping Funds (“NSF”) with a concurrent charter-back. NSF is a leading alternative capital provider focusing on equity investments in the shipping and offshore oil service sectors.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/a-large-weight-lifted-%e2%80%93-genmar-sale-leaseback/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Genmar Buys Time – Amends Loan Agreement and Enters Into Bridge Loan</title>
		<link>http://www.marine-money.com/archive/genmar-buys-time-%e2%80%93-amends-loan-agreement-and-enters-into-bridge-loan</link>
		<comments>http://www.marine-money.com/archive/genmar-buys-time-%e2%80%93-amends-loan-agreement-and-enters-into-bridge-loan#comments</comments>
		<pubDate>Thu, 07 Oct 2010 14:55:54 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[John Parker]]></category>
		<category><![CDATA[Metrostar]]></category>
		<category><![CDATA[Nordea Bank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9675</guid>
		<description><![CDATA[On Tuesday, General Maritime announced it had amended its Credit Agreement dated July 16, 2010 with Nordea Bank and DnB NOR  to allow the company an additional year, ending September 30, 2011, in order to raise a minimum of $52.4 million in new equity (the balance needed to achieve 40% of the purchase price), which will be used to partially finance a portion of the purchase price of the last two vessels to be delivered under the Metrostar agreement.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/genmar-buys-time-%e2%80%93-amends-loan-agreement-and-enters-into-bridge-loan/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Look at the Numbers &#8211; “You got to know when to hold ‘em, know when to fold ‘em”</title>
		<link>http://www.marine-money.com/archive/a-look-at-the-numbers-%e2%80%9cyou-got-to-know-when-to-hold-%e2%80%98em-know-when-to-fold-%e2%80%98em%e2%80%9d</link>
		<comments>http://www.marine-money.com/archive/a-look-at-the-numbers-%e2%80%9cyou-got-to-know-when-to-hold-%e2%80%98em-know-when-to-fold-%e2%80%98em%e2%80%9d#comments</comments>
		<pubDate>Fri, 01 Oct 2010 14:51:59 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Marine Money]]></category>
		<category><![CDATA[Chris Breaux]]></category>
		<category><![CDATA[DryShips]]></category>
		<category><![CDATA[DVB Markets]]></category>
		<category><![CDATA[Ethan Ram]]></category>
		<category><![CDATA[FBR Capital Markets]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[George Weltman]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[NATS]]></category>
		<category><![CDATA[OSG]]></category>
		<category><![CDATA[Safe Bulkers]]></category>
		<category><![CDATA[sakos Energy Navigation]]></category>
		<category><![CDATA[TK]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9841</guid>
		<description><![CDATA[One does not often hear public companies these days speaking about going private. And why should they? In today’s world of limited bank lending, access to capital is paramount, with liquidity a close second. The world has changed immeasurably from the past when public shipping companies worried about the lack of recognition or respect that their shares received, what perhaps could be called the Rodney Dangerfield syndrome. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>J.P.Morgan Predicts Tanker Sector Recovery</title>
		<link>http://www.marine-money.com/archive/j-p-morgan-predicts-tanker-sector-recovery</link>
		<comments>http://www.marine-money.com/archive/j-p-morgan-predicts-tanker-sector-recovery#comments</comments>
		<pubDate>Fri, 23 Jul 2010 01:41:57 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Frontline]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[J.P. Morgan]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9545</guid>
		<description><![CDATA[J.P.Morgan forecasts a tanker market recovery that should begin in the 4th Quarter of 2010 and continue through 2011. The firm reports that current low tanker stock price levels will result in favorable risk/reward outcomes for investors as the market recovers. Thus, J.P.Morgan has shifted their ratings preference to Beta. According to the firm, the companies with the highest forecasted returns are those with the most earnings leverage to spot rates, notably General Maritime and Frontline, which have been upgraded to “Overweight” ratings. Their ratings were previously Neutral and Underweight, respectively.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/j-p-morgan-predicts-tanker-sector-recovery/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Taking Care of Business</title>
		<link>http://www.marine-money.com/archive/taking-care-of-business</link>
		<comments>http://www.marine-money.com/archive/taking-care-of-business#comments</comments>
		<pubDate>Thu, 15 Jul 2010 14:47:23 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Metrostar]]></category>
		<category><![CDATA[Nordea]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9456</guid>
		<description><![CDATA[While we know the capital markets are abuzz with activity, there are still the mundane but important things that must be taken care of. On Tuesday, General Maritime amended its $750 million credit facility with Nordea, DnB NOR and HSH Nordbank, as joint lead arrangers and joint bookrunners (the “Credit Facility”) to permit the incurrence of indebtedness under the new $372 million credit facility being utilized for the acquisition of the Metrostar vessels.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Meeting Its Obligations</title>
		<link>http://www.marine-money.com/archive/meeting-its-obligations</link>
		<comments>http://www.marine-money.com/archive/meeting-its-obligations#comments</comments>
		<pubDate>Thu, 01 Jul 2010 19:02:35 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[General Maritime]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9367</guid>
		<description><![CDATA[In order to satisfy its obligations under the registration rights agreement, General Maritime announced yesterday that it had commenced an exchange offer to exchange up to $300 million principal amount of newly issued 12% Senior Notes due 2017 (“Series B Notes”), registered under the Securities Act of 1933 for a like principal amount of its privately placed outstanding 12% Senior Notes due 2017 sold in November 2009 (“Series B Notes”). The notes are identical in all material respects except that the Series B notes have been registered with the SEC and will not contain terms that restrict transfer or registration rights. The offer will not affect debt levels nor will the company receive any proceeds from the exchange.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/meeting-its-obligations/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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