There’s one guy in the shipping industry who has created a lot of value for his shareholders, Cramer says, and that’s Peter Georgiopolous, the CEO of General Maritime. Georgiopolous is also the chairman of Genco Shipping and Aegean Marine Petroleum , which might sound a bit odd to the everyday investor. He says he made the decision to create the different companies because it gives institutional shareholders the opportunity to dabble in the different sectors of the shipping industry. People prefer the structure, he says, and the companies get better valuation this way.
Georgiopolous also spearheaded a dividend policy with General Maritime where the company paid out a one-time $15 dividend. It also has a $2 set dividend per year, he says.
And while he expects 6%-7% growth in tanker fleets over the next few years, the supply of tankers still hasn’t caught up with demand. “We think we’re in a good balance right now,” he says.