The Aft Deck's  Instablog

Today, let’s look at General Maritime (GMR), a leading operator of midsized tankers, from a Technical POV. The overall indications, after Tuesday’s (June 23, 2009) market action, are Neutral: in the near term Neutral, mid-term Neutral, and long term Neutral.

There is a DOJI on June 23, and two Gaps open up between Apr 2 and 7, 2009 at 7.18/8.13, the near term resistance is 9.59, support at 9.84, and the 50 day (EMA) exponential moving average is 9.60.

This is General Maritime (GMR): A leading operator of midsized tankers, General Maritime transports Crude Oil, primarily in the Atlantic Basin but also in the Black Sea. The company’s fleet of about 30 double-hull tankers includes Aframax and Suezmax vessels and has an overall capacity of about 3.9 million deadweight tons (DWT). General Maritime deploys its vessels both on the spot market (voyage by voyage) and under longer-term charter contracts. Customers have included major oil companies such as Chevron, CITGO, Exxon Mobil, Hess, and Shell. CEO Peter Georgiopoulos founded the company in 1997.

Competitive Landscape

Demand is driven by macroeconomic trends in global imports and exports. The profitability of individual companies depends on efficient operations and a good safety record. Large companies have advantages in fleet size and port access. Small companies can compete effectively by chartering services out of smaller ports and transporting unusual cargo. Average annual revenue per worker for a typical company is nearly US$500,000.

Deep Sea Shipping Industry Forecast

The output of US water transportation, which includes deep sea shipping, is forecast to grow at an annual compounded rate of 4 % between 2008 and 2013. Data Sourced: December 2008

Full Report