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Gener8 Maritime sees strong crude market continuing

It was smooth sailing for the tanker carrier, Gener8 Maritime, in a strong crude oil market in 2015 in which the company more than doubled its revenue. Powerful demand will absorb the many new vessels set to hit the water in the coming years, projects management.

Photo: Navig8

New York-listed tanker carrier Gener8 Maritime, which is one of the world's largest players in the supertanker VLCC segment, benefited from 2015's rock-solid market for crude oil transport.

The company soared back into the black and turned a net deficit of USD 47.1 million from 2014 into a profit of USD 129.6 million, according to Gener8 Maritime's annual report.

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