Exhibit 12.1
General Maritime Corporation
Computation of Ratio of Earnings to Fixed Charges*
(Expressed in thousands of United States Dollars, except ratios)
| | Nine months ended September 30, | | | Year Ended December 31, | |
| | 2010 | | | 2009 | | | 2008 | | | 2007 | | | 2006 | | | 2005 | |
Fixed Charges | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 59,314 | | | $ | 37,344 | | | $ | 29,388 | | | $ | 25,541 | | | $ | 4,165 | | | $ | 32,400 | |
Capitalized interest | | | - | | | | - | | | | 119 | | | | 2,385 | | | | 3,571 | | | | 3,475 | |
Amortized loan fees | | | 2,318 | | | | 1,724 | | | | 1,089 | | | | 959 | | | | 722 | | | | 1,968 | |
Interest Component of rent | | | 314 | | | | 466 | | | | 918 | | | | 918 | | | | 918 | | | | 918 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Fixed Charges | | | 61,946 | | | | 39,534 | | | | 31,514 | | | | 29,803 | | | | 9,376 | | | | 38,761 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings | | | | | | | | | | | | | | | | | | | | | | | | |
Pretax operating (loss) income | | | (49,421 | ) | | | (11,995 | ) | | | 29,807 | | | | 44,539 | | | | 156,831 | | | | 212,357 | |
Fixed charges | | | 61,946 | | | | 39,534 | | | | 31,514 | | | | 29,803 | | | | 9,376 | | | | 38,761 | |
Capitalized interest | | | - | | | | - | | | | 119 | | | | 2,385 | | | | 3,571 | | | | 3,475 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings | | $ | 12,525 | | | $ | 27,539 | | | $ | 61,202 | | | $ | 71,957 | | | $ | 162,636 | | | $ | 247,643 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of Earnings to Fixed Charges | | | 0.20 | (a) | | | 0.70 | (a) | | | 1.94 | | | | 2.41 | | | | 17.35 | | | | 6.39 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | | | 0.20 | | | | 0.70 | | | | 1.94 | | | | 2.41 | | | | 17.35 | | | | 6.39 | |
(a) For the nine months ended September 30, 2010 and for year ended December 31, 2009, earnings were insufficient to cover fixed charges by $49,421 and $11,995, respectively.
*As defined in Item 503(d) of Regulation S-K of the Securities Exchange Act of 1934