Gener8 Maritime, Inc. Announces Delivery of the Gener8 Chiotis

NEW YORK, Aug. 22, 2016 /PRNewswire/ -- Gener8 Maritime, Inc. (NYSE: GNRT) ("Gener8 Maritime"), a leading U.S.-based provider of international seaborne crude oil transportation services, announced that it took delivery of the "ECO" VLCC the Gener8 Chiotis on August 18, 2016 from Shanghai Waigaoqiao Shipbuilding Co. Ltd. The Gener8 Chiotis represents the twelfth of 21 "ECO" VLCCs expected to be delivered into Gener8 Maritime's fleet.  Upon delivery, the Gener8 Chiotis entered Navig8 Group's VL8 Pool.

About Gener8 MaritimeAs of August 22, 2016, Gener8 Maritime has a fleet of 44 wholly-owned vessels comprised of 27 VLCCs, including 9 newbuildings, 11 Suezmaxes, four Aframaxes, and two Panamax tankers.  On a fully-delivered basis, Gener8 Maritime's fleet has a total carrying capacity of approximately 10.5 million deadweight tons ("DWT") and an average age of approximately 5 years on a DWT basis. Gener8 Maritime is incorporated under the laws of the Marshall Islands and headquartered in New York.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations. Included among the factors that, in the view of Gener8 Maritime, Inc. (the "Company"), could cause actual results to differ materially from the forward-looking statements contained in this press release are the following: the fulfillment of the closing conditions under, or the execution of customary additional documentation for, the Company's shipbuilding contracts; completion and funding of financing on acceptable terms; delay in the construction of the Company's newbuildings; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission (the "SEC"), including without limitation, the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and its subsequent reports on Form 10-Q and Form 8-K. Gener8 Maritime, Inc. does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE Gener8 Maritime, Inc.