General Maritime buying two Aframax tankers

General Maritime Corp. said it had agreed to acquire two 2002-built double-hull Aframax vessels from Euronav NV or its affiliates for an aggregate purchase price of $137 million.

The company expects to take delivery of the two double-hull vessels, subject to customary closing conditions, between July and October 2008. General Maritime plans to finance the acquisition through borrowings under its $900 million revolving credit facility and cash from operations. 

Source: American Shipper