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France wants UN Security Council blessing for international naval patrols empowered to hunt down pirates, even in territorial waters. What do you think?

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Marine Log

April 15, 2008

Peter Georgiopoulos launches Green Maritime Partners

Peter C. Georgiopoulos today announced the launch of Green Maritime Partners, LLC ("GMP"), a newly formed private equity fund. GMP is targeting environmentally sustainable investments within the maritime and clean energy sectors.

"Environmental reform in the maritime industry is becoming a critical issue. GMP also intends to fund promising projects in the clean energy area outside of the maritime industry. I am proud to be part of this important initiative," said Mr. Georgiopoulos, who as well as being Founder and Chairman, Green Maritime Partners is Chairman and CEO of General Maritime Corp. (NYSE: GMR), Chairman of Genco Shipping & Trading Ltd. (NYSE: GNK), and Chairman of Aegean Marine Petroleum Network Inc. (NYSE: ANW).

GMP co-founder Chris Teryazos will be responsible for its operations. Mr. Teryazos is an experienced private equity and investment banking professional. Prior to the launch of GMP, Mr. Teryazos was with Pegasus Capital Advisors, L.P., a private equity fund manager with a focus on middle market investment across a wide variety of industries.

Green Maritime Partners is an investment vehicle dedicated to providing both funding and strategic assistance to environmentally sustainable businesses in the maritime and clean energy industries. GMP has a broad mandate to seek investments within these two sectors.

In the maritime industry, Green Maritime Partners will fund businesses dedicated to emissions reduction, energy efficiency, environmental remediation and other sensitive issues. GMP will also fund alternative and renewable energy assets and other projects related to the clean energy sector. Investment sizes will range from $5 to 20 million.

All investments will be evaluated and prioritized based on their commercial viability and proximity to income generation.

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