OMI Corporation Orders Vessel.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Sept. 5, 2003 OMI (1) See Open Market. (2) (Open Microprocessor Initiative, Brussels, Belgium) An organization that functions under the umbrella of the European Commission. It funds projects that research and develop advanced microcontroller technologies. Corporation (NYSE NYSE See: New York Stock Exchange :OMM OMM Organisation Météorologique Mondiale (French: World Meteorological Organization) OMM Organización Meteorológica Mundial (Spanish: World Meteorological Organization) OMM Organizzazione Meteorologica Mondiale ) of Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. announced that it has ordered one 37,000 dwt ice-class 1A product carrier to be built by Hyundai Mipo Dockyard Co., Ltd., Ulsan, Korea. The vessel is scheduled to be delivered in June of 2005. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer, commented that "we continue to grow our core business of double hull A double hull is a ship hull design and construction method where the bottom and sides of the ship have two complete layers of watertight hull surface: one outer layer forming the normal hull of the ship, and a second inner hull which is somewhat further into the ship, perhaps a product carriers and Suezmaxes; this is the fifth sister product carrier on order, three of which will commence five year time charters upon their deliveries in 2004. We maintain our optimistic outlook for both time charter and spot market business." OMI is a major international tanker owner and operator of crude oil tankers and product carriers. Its fleet currently comprises 40 vessels, primarily Suezmaxes and product carriers, aggregating in excess of 3.1 million deadweight tons. The Company currently has 21 of its 40 vessels on time charter. With the above order, OMI has on order five 37,000 dwt ice class 1A product carriers scheduled to be delivered in 2004 and 2005. Three of the product carriers will commence five year time charters at the time of delivery. |
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