Demand to Double Omega Fleet

Oil product tanker company Omega Navigation Enterprises Inc. aims to double its fleet within three years on rising demand for refined product shipments, the company said.

With limited growth in oil refinery capacity in the United States and western Europe, growing volumes of refined products are being shipped to these markets by tanker from refineries around the world. Piraeus, Greece-based Omega recently ordered two tankers, which will boost its fleet to eight vessels. The contract for the tankers includes an option to buy another two vessels.