Gener8 Maritime, Inc. Announces Delivery of the Gener8 Neptune

NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Gener8 Maritime, Inc. (NYSE: GNRT) ("Gener8 Maritime"), a leading U.S.-based provider of international seaborne crude oil transportation services, today announced that it took delivery of the ECO VLCC Gener8 Neptune from Daewoo Shipbuilding & Marine Engineering on September 11, 2015.  The Gener8 Neptune represents the first of 21 "ECO" VLCCs expected to be delivered into Gener8 Maritime's fleet. 

Peter Georgiopoulos, Chairman and Chief Executive Officer, commented, "We are pleased to have taken delivery of the first ship in our 'ECO' VLCC newbuilding program and look forward to building out our VLCC fleet as we take deliveries from our current order book over the next 18 months."  Upon delivery, the Gener8 Neptune will be entered into Navig8's VL8 Pool.                

About Gener8 Maritime

Gener8 Maritime has a fully-delivered fleet of 47 vessels, including one time-chartered-in VLCC. Gener8's owned fleet is comprised of 20 VLCC newbuildings and 26 vessels on the water consisting of 8 VLCCs, 11 Suezmaxes, four Aframaxes, two Panamax tankers, and one Handymax tanker, with a total carrying capacity of over 11.1 million deadweight tons, and average age on a DWT basis of less than 6 years upon delivery of the newbuildings. 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 1995

This 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 prospectus dated June 24, 2015, filed with the SEC pursuant to rule 424(b) of the Securities Act on June 25, 2015, and the Company's quarterly report on Form 10-Q for the three months ended June 30, 2015, which are accessible on the SEC's website at www.sec.gov and which may be obtained by contacting the Company's investor relations department via the Company's website www.gener8maritime.com. Gener8 Maritime, Inc. does not undertake any obligation to update or revise any forward-looking statements as a result of new information, future events, or otherwise.

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SOURCE Gener8 Maritime, Inc.