OMI Delivers New Vessel

OMI Corporation has delivered the Amazon, a 47,000 dwt product tanker, which is the first of a series of four sisterships being constructed for Onomichi Dockyard Co. Ltd., pursuant to contracts between the company and Sumitomo Corporation. The vessel has entered into a previously announced three-year time charter. Craig H. Stevenson, Chairman, CEO and president of OMI said, “ This brings to 15 the number of vessels on long term time charter, with two more new product tankers to be added during the first quarter of this year. We now have twenty handysize and handymax product tankers, making us the largest owner in the world in this size category. Further twelve of the vessels were built in 1999 or later making it a very young fleet and four more are to be delivered to us over the next fourteen months, all of which are time chartered from delivery.”