OMI Sells Single Hull Vessel

Thursday, September 30, 2004
OMI Corporation of Stamford, Connecticut announced that it had agreed to sell the SETTEBELLO, its 1986 built single hull ultra large crude carrier to an affiliate of Petrobras S.A. for use in an offshore project. The Company will recognize a gain of approximately $3.2 million at the time it delivers the vessel, expected to be during the fourth quarter of 2004. The sale leaves the Company with all double hull vessels except for one single hull product carrier and two double sided handysize crude oil carriers.

Ship Sales

Securing the Scorpene: DCNS to Move Court

The French shipbuilder DCNS plans to seek an injunction to prevent further publication of information contained in 22,400 secret documents about stealth submarines built for India,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

 
 
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