Oman Methanol Company News

Mitsui O.S.K. Lines, Ltd. (MOL) says it has signed a contract with Methanol Holdings (Trinidad) Limited (MHTL) to build and charter four methanol carriers. MOL consider that the new contracts will play an essential part in MOL's strategy to strengthen long-term business, as well as enabling the company to renew its methanol fleet by replacing older vessels with ships featuring the most advanced designs. Global demand for methanol is expected to grow and MOL will continue expanding its services to meet the needs of a broad range of customers…

Gulf Energy Maritime has taken delivery of the second of 13 double-hulled tankers on order with Korea’s Hyundai Mipo Dockyard (HMD) in less than three months. The $57m Gulf Elan is the eighth double-hulled tanker in GEM’s growing fleet. The company is to receive another 11 of the total order book of 13 ships valued at $590 million by 2009 end. The ship was named by lady sponsor Jane Slemeck, wife of Mark Slemeck, managing director of Kingfish Services Ltd., London-based operators for IPC/Itochu Petroleum which has time chartered the ship for one year. Gulf Elan will follow the trading path of its sister ship, Gulf Esprit, delivered to GEM last November, by going into time charter with Oman Methanol Company, a subsidiary of Oman’s giant Omzest Group, on a 15-year deal.

The $55mGulf Esprit - the first of 13 double-hulled tankers ordered by Dubai-headquartered Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator - has been named at Korea's Hyundai Mipo Dockyard. The 47,000 dwt Gulf Esprit is the seventh double-hulled tanker in GEM's rapidly growing fleet - now one of the youngest in the world. The company is to receive another 12 hi-specification vessels with an order book value of USD 570 million by 2009 end. Delivery of the Gulf Esprit, which will go into time charter with Oman Methanol Company, a subsidiary of Oman's giant OMZEST Group, on a 15-year deal, takes GEM's asset value to $1.1b.