Chevron And Mitsui Award Kawasaki

Through a joint venture company, Chevron Corp. and Mitsui & Co. have awarded Kawasaki Heavy Industries with a contract for the construction of two 82,200 cu.m. Liquefied Petroleum Gas (LPG) carriers, with delivery expected during the last quarters of 2001 and 2002, respectively. Financial details of the contract were not disclosed.

The vessels will be designated on a long-term charter to Dynergy Global Liquids, and operated by Chevron. They are expected to enhance Dynergy's ability to move large volumes of LPG at competitive market rates.

With a laden speed of 17 knots, the vessels will transport volumes of propane and butane to global markets, as well as being able to trade to eastern and western hemisphere markets.