Marine Link
Monday, October 24, 2016

Variety Of Vessels Acquired

November 19, 1999

OMI Corp. has agreed to attain one of two Suezmax tankers currently under construction in Korea from Mega Tankers ASA of Oslo. The second tanker is being acquired by Frontline Ltd. (FRO), the company's partner in Alliance Chartering LLC, which commercially manages the largest fleet of Suezmax tankers in the world. With a purchase price of $46.1 million, the company will issue 6.3 million shares valued at $2.50 per share to the sellers and assume approximately $30.3 million net in obligations to the shipbuilder.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

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