Exhibit 99.1

GENERAL MARITIME CORPORATION

CONTACT:
John C. Georgiopoulos
Chief Financial Officer
General Maritime Corporation
(212) 763-5670


                 GENERAL MARITIME ACQUIRES SOPONATA GROUP ASSETS

 Accretive Acquisition Significantly Improves Fleet's Age Profile and Positions
                       Company for Increased Profitability

New York, New York, March 26, 2004 - General Maritime Corporation (NYSE: GMR)
today announced that it has reached an agreement to acquire the fleet and
technical operations of Soponata SA, a world-class Portuguese shipping company,
for cash. As part of this transaction, General Maritime will acquire five
vessels, four newbuilding contracts and Soponata's technical management company.
The transaction is subject to customary closing conditions and is expected to be
completed by May 2004.

Peter Georgiopoulos, Chairman, Chief Executive Officer and President, commented,
"We are extremely excited to have once again utilized our strong financial
position to consolidate the mid-sized tanker market in an accretive manner. The
acquisition, which was completed at a compelling price, will enable General
Maritime to accomplish important strategic objectives such as further increasing
our earnings potential, improving the age profile of our fleet, and expanding
our chartering relationships with oil majors. The newbuilding contracts that we
acquired also enable General Maritime to access the newbuilding market without
adding to the world orderbook capacity."

Founded in 1947, Soponata has a rich heritage of operating quality tankers and
serving world class customers. Soponata's fleet consists of nine vessels
including three double-hull Aframax tankers, two double-sided Suezmax tankers
and four newbuilding Suezmax tankers of which two are scheduled for delivery in
2006 and two in 2007. The Soponata acquisition will significantly improve the
age profile of General Maritime's fleet. Including the newbuildings, the average
age of the fleet will be reduced to approximately 10 years from its present age
of approximately 12 years. The percentage of double-hull and double-sided
vessels will increase to 83% compared to 79% at the present time. Including the
newbuildings, General Maritime's fleet will increase to 51 vessels, consisting
of 26 Aframax and 25 Suezmax with a carrying capacity of approximately 6.2
million dwt.

Mr. Georgiopoulos continued, "We have once again entered into an acquisition
that will add enduring value to the Company and its shareholders. Building on
our landmark acquisition in 2003, we intend to utilize our expanded fleet to
further enhance the Company's commercial and financial position. As we did in
2003, we also intend to maintain our intense focus on preserving the Company's
financial strength and flexibility - two pillars of our approach to operating
the Company for long-term success."

General Maritime will acquire Soponata SA's fleet and operations for an
enterprise value of $415 million (inclusive of four newbuilding contracts). The
Company intends to finance the acquisition through the use of cash on hand and
available borrowings on their revolving credit facility. General Maritime
expects the acquisition to be immediately accretive. Based on the 5-year
Clarksons average for Suezmax and Aframax spot rates, management believes the
acquisition could contribute $34.2 million annually and $60.4 million annually
after the addition of the 4 newbuildings to operating cash flow on a pro-forma
basis.

Mr. Georgiopoulos concluded, "General Maritime will seek to continue to benefit
from the current strong market by operating the majority of its new and existing
tankers in the spot market. Our 33% time charter coverage complements our strong
spot position and allows us to provide significant downside protection to our
shareholders. We will continue to pursue opportunities to add enduring value to
General Maritime." American Marine Advisors acted as a financial advisor to
General Maritime Corporation on the Soponata transaction.

                       About General Maritime Corporation

General Maritime Corporation is a provider of international seaborne crude oil
transportation services principally within the Atlantic basin which includes
ports in the Caribbean, South and Central America, the United States, West
Africa, the Mediterranean, Europe and the North Sea. We also currently operate
tankers in other regions including the Black Sea and Far East. General Maritime
Corporation owns and operates a fleet of 42 tankers - 23 Aframax and 19 Suezmax
tankers - making it the second largest mid-sized tanker company in the world,
with a carrying capacity of approximately 5.1 million dwt.


                          Conference Call Announcement


General Maritime Corporation announced that it will hold a conference call on
Friday, March 26, 2004 at 11:00 a.m. Eastern Time to discuss its acquisition of
the Soponota Group assets. To access the conference call, dial (913) 981-5523
and ask for the General Maritime Corporation conference call. A replay of the
conference call can also be accessed until April 8, 2004 by dialing (888)
203-1112 for US callers and (719) 457-0820 for non-US callers, and entering the
passcode 717441. The conference call will also be simultaneously webcast and
will be available on the Company's website, www.GeneralMaritimeCorp.com.






"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
1995 This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward looking statements are based on management's current expectations
and observations. Included among the factors that, in the company's view, could
cause actual results to differ materially from the forward looking statements
contained in this press release are the following: failure of one or more of the
contemplated acquisitions to close; changes in demand; a material decline or
prolonged weakness in rates in the tanker market; changes in production of or
demand for oil and petroleum products, generally or in particular regions;
greater than anticipated levels of tanker newbuilding orders or lower than
anticipated rates of tanker scrapping; changes in rules and regulations
applicable to the tanker industry, including, without limitation, legislation
adopted by international organizations such as the International Maritime
Organization and the European Union or by individual countries; actions taken by
regulatory authorities; changes in trading patterns significantly impacting
overall tanker tonnage requirements; changes in the typical seasonal variations
in tanker charter rates; changes in the cost of other modes of oil
transportation; changes in oil transportation technology; increases in costs
including without limitation: crew wages, insurance, provisions, repairs and
maintenance; changes in general domestic and international political conditions;
changes in the condition of the company's vessels or applicable maintenance or
regulatory standards (which may affect, among other things, the company's
anticipated drydocking or maintenance and repair costs); and other factors
listed from time to time in the Company's filings with the Securities and
Exchange Commission, including, without limitation, its Annual Report on Form
10-K for the year ended December 31, 2003.