GNRT Gener8 Maritime

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Concerning Whether the Sale of Gener8 Maritime, Inc. to Euronav is Fair to Shareholders

The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased Gener8 Maritime, Inc. ("Gener8" or "the Company") (NYSE:GNRT) stock prior to December 21, 2017.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Gener8 Maritime, Inc. to Euronav. Under the terms of the deal, Gener8 shareholders will receive 0.7272 of a share of Euronav for each share of Gener8 stock they own. To learn more about the action and your rights, go to:

http://www.zlk.com/mna/gener8-maritime-inc

or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Gener8 breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Euronav is underpaying for Gener8 shares, thus unlawfully harming Gener8 shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

EN
28/12/2017

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Reports on Gener8 Maritime

Nicolay Dyvik
  • Nicolay Dyvik

Not a repeat of December 2018

OPEC+ has announced it will cut oil production by 0.5mbpd from January. With Iraq’s pledge to increase compliance, we now estimate 760kbpd of oil could be removed from the market, as Saudi Arabia reiterated its 400kbpd voluntary cut, compared to October 2019. However, as October was a month with strong Saudi production of 10.2mbpd, above the YTD average of 9.8mbpd, we see the actual cut more in line with 360kbpd or 30% of the cut in November last year. Hence we do not expect such a profound im...

Nicolay Dyvik
  • Nicolay Dyvik

Next VLCC could be USD107.5m

According to Tradewinds and industry sources, VLCC resale asset prices are on the rise. Currently a scrubber-fitted VLCC resale is on subjects for USD107.5m, which is above the USD105m we heard last week and above the USD98m sale from Hunter Group in June, but approaching our 2020 VLCC resale forecast of USD107m launched in March 2018. On current asset values, our tanker peer group is trading at a 1.08x NAV, while based on the above the P/NAV would be 0.98x.

Nicolay Dyvik
  • Nicolay Dyvik

Upgraded to BUY after two years

We have upgraded most of our covered tanker companies to BUY (HOLD) for the first time since April 2016. We forecast ~100% upside to VLCC rates and ~30% upside to VLCC resale prices by 2020e. The tanker stocks with the modest leverage are unchanged YOY despite VLCC rates at USD15k/day since June 2016, suggesting that the bad news is already priced in.

 PRESS RELEASE

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investi...

NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Gener8 Maritime, Inc. ("Gener8" or "the Company") (NYSE:GNRT) stock prior to December 21, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Gener8 Maritime, Inc. to Euronav. Under the terms of the deal, Gener8 shareholders will receive 0.7272 of a share of Euronav for each share of Gener8 stock they own. To...

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