Mad Money Spotlight: Cramers' Tankers

But the company, which has its headquarters in the tax haven of Bermuda, bragged about its frugality in the press release, saying that it's able to operate its vessels at a profit even if it's earning just $10,000 a day on average per ship.

Nordic shares were trading midday Monday at $29.82, down 11 cents, on lighter-than-average volume. The stock has fallen from the highs it reached in early January and then again in May of nearly $37.

General Maritime reported its second-quarter results -- which fell short of expectations -- on July 29. The company also cut its dividend by 75% in a bid to preserve cash.

Shares of General Maritime, based in New York, were trading Monday at $8.82, up 22 cents, also on light volume. The stock broached $12 in May, its high for 2009.

-- Reported by Scott Eden in New York