EX-12.1 9 ex12_1.htm EXHIBIT 12.1 ex12_1.htm
Exhibit 12.1
 
GENERAL MARITIME CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES*
(Expressed in thousands of United States Dollars, except ratios)

 
    Year Ended December 31,    
Three Months Ended March 31,
  
   
2005
    
2006
    
2007
    
2008
    
2009
    
2010
  
Fixed Charges
                                    
Interest expense
   $ 32,400     $ 4,165     $ 25,541     $ 29,388     $ 37,344     $ 18,692  
Capitalized interest
     3,475       3,571       2,385       119       -       -  
Amortized loan fees
     1,968       722       959       1,089       1,724       637  
Fixed Charges
     37,843       8,458       28,885       30,596       39,068       19,329  
                                                 
Earnings
                                                
Pretax operating income
     212,357       156,831       44,539       29,807       (11,995 )     (9,079 ) 
Fixed charges
     37,843       8,458       28,885       30,596       39,068       19,329  
Capitalized interest
     3,475       3,571       2,385       119       -       -  
Earnings
   $ 246,725     $ 161,718     $ 71,039     $ 60,284     $ 27,073     $ 10,250  
                                                 
                                                 
Ratio of earnings to fixed charges
     6.52       19.12       2.46       1.97       0.69 (a)     0.53 (a)

 
(a) For the three months ended March 31, 2010 and for year ended December 31, 2009, earnings were insufficient to cover fixed charges by $9,079 and $11,995, respectively.
 
*As defined in Item 503(d) of Regulation S-K of the Securities Exchange Act of 1934