1127269--3/1/2007--GENERAL_MARITIME

related topics

{cost, contract, operation}

{gas, price, oil}

{debt, indebtedness, cash}

{tax, income, asset}

{stock, price, share}

{provision, law, control}

{acquisition, growth, future}

{stock, price, operating}

{operation, international, foreign}

{competitive, industry, competition}

{cost, regulation, environmental}

{personnel, key, retain}

{condition, economic, financial}

{regulation, change, law}

{customer, product, revenue}

{interest, director, officer}

{product, liability, claim}

ADDITIONAL FACTORS THAT MAY AFFECT FUTURE RESULTS RISK FACTORS RELATED TO OUR BUSINESS OPERATIONS The cyclical nature of the tanker industry may lead to volatile changes in charter rates and vessel values which may adversely affect our earnings. Charter rates for vessels are at levels that remain high relative to historic levels and may decrease in the future, which may adversely affect our earnings and ability to pay dividends. Our revenues may be adversely affected if we do not successfully employ our vessels. A decline in demand for crude oil or a shift in oil transport patterns could materially and adversely affect our revenues. The market for crude oil transportation services is highly competitive and we may not be able to effectively compete. The market value of our vessels may fluctuate significantly, and we may incur losses when we sell vessels following a decline in their market value. We may not be able to grow or to effectively manage our growth. Our operating results may fluctuate seasonally. Because we generate all of our revenues in U.S. Dollars but incur a significant portion of our expenses in other currencies, exchange rate fluctuations could have an adverse impact on our results of operations. If we lose any of our customers or a significant portion of our revenues, our operating results could be materially adversely affected. There may be risks associated with the purchase and operation of secondhand vessels. An increase in costs could materially and adversely affect our financial performance. We may face unexpected repair costs for our vessels. Compliance with safety and other vessel requirements imposed by classification societies may be very costly and may adversely affect our business. We depend on our key personnel and may have difficulty attracting and retaining skilled employees. Shipping is an inherently risky business and our insurance may not be adequate. The risks associated with older vessels could adversely affect our operations. Compliance with safety, environmental and other governmental requirements and related costs may adversely affect our operations. Increased inspection procedures and tighter import and export controls could increase costs and disrupt our business. Our vessels may be requisitioned by governments without adequate compensation. Increases in tonnage taxes on our vessels would increase the costs of our operations. Arrests of our vessels by maritime claimants could cause a significant loss of earnings for the related off hire period. Portions of our income may be subject to U.S. tax. RISK FACTORS RELATED TO OUR FINANCINGS Our 2005 Credit Facility imposes, and it is possible that any indenture for debt securities we may issue will impose, significant operating and financial restrictions that may limit our ability to operate our business We could incur a substantial amount of debt, which could materially and adversely affect our financial condition, results of operations and business prospects and prevent us from fulfilling our obligations under our debt securities. Fluctuations in the market value of our fleet may adversely affect our liquidity and may result in breaches under our financing arrangements and sales of vessels at a loss. If we default under our 2005 Credit Facility, we could forfeit our rights in certain of our vessels and their charters. We are a holding company, and we depend on the ability of our subsidiaries to distribute funds to us in order to satisfy our financial and other obligations. RISK FACTORS RELATED TO OUR COMMON STOCK Anti-takeover provisions in our financing agreements and organizational documents, as well as our shareholder rights plan, could have the effect of discouraging, delaying or preventing a merger or acquisition, which could adversely affect the market price of our common stock. We cannot assure you that we will pay any dividends. Future sales of our common stock could cause the market price of our common stock to decline. Our incorporation under the laws of the Republic of the Marshall Islands may limit the ability of our shareholders to protect their interests. It may not be possible for our investors to enforce U.S. judgments against us.

Full 10-K form ▸

1127269--3/1/2007--GENERAL_MARITIME_CORP/