Exmar, Mitsui OSK Team To Buy LNG Tankers

Exmar Group has set up a joint venture with Japan's Mitsui OSK Lines to buy two tankers to transport liquified natural gas (LNG). "It's basically 50/50," Exmar Director Rodney Hyne Jones, said. Exmar said in a statement that the two companies had already ordered the tankers from Okpo Yard of Daewoo Shipbuilding & Marine Engineering Co. Ltd. in South Korea and expected to get them in the first and third quarters of 2003. Hyne Jones said the venture would operate out of CMB's headquarters in the Belgian port city of Antwerp. – (Reuters)