Dahlman Rose Maintains Hold on General Maritime (GMR)

Dahlman Rose is out with its report today on General Maritime (NYSE: GMR), maintaining Hold.

In a note to clients, Dahlman Rose writes, "Genmar's refinancing significantly improves the company's liquidity and greatly improves its operational flexibility. The cash flow sweep provision of its amended facility allows the company to maintain its cash position, which was $62.8MM at the end of 1Q11, and gives it the flexibility to weather the slow recovery of the crude tanker market. We maintain our Hold rating, but expect Genmar's financial position to improve with the tanker market next year."

At the time of posting, shares of GMR were trading pre-market at $2.22, up 3.26% from Tuesday's close.