OMI Corp. has agreed to attain two 47,000-dwt product carriers from
another owner that are currently under construction at Onimichi Dockyard in Japan. The vessels will be delivered to the company in September and late November 2000, upon which they will commence two time charters
to an oil company. The company has also agreed to sell the 29,996-dwt product carrier Tiber
, which was built in 1989, and is the last of its Polish built vessels.