Printer Friendly

TMM ANNOUNCES NEW CONTRACTS WITH PEMEX

 MEXICO CITY, Sept. 28 /PRNewswire/ -- Transportacion Maritima Mexicana (NYSE: TMM/TMM.A) today announced that it has been awarded two additional contracts with PEMEX, Mexico's state-owned oil company, for the transport of refined petroleum products between Mexican ports. These contracts, each of which will generate $42.1 million in revenue for TMM over the life of the contract, carry a term of seven years with an option to renew for an additional three year period.
 The ships to be used in serving these contracts are approximately 38,000 DWT (dead weight tons) and are time chartered by TMM with an option to purchase.
 The addition of these contracts, awarded under competitive international bidding, enable TMM to currently transport in excess of 100,000 barrels of PEMEX refined petroleum products per day.
 TMM is Mexico's largest maritime shipping company and the leader among world carriers serving Mexico. Since July 1992, TMM has been awarded with a total of five cabotage contracts by PEMEX.
 -0- 9/28/93
 /CONTACT: Luis Gutierrez or Pedro Mejorada of TMM, 011-525-606-0444, or Fern Lazar of Dewe Rogerson, 212-688-6840/
 (TMM)


CO: Transportacion Maritima Mexicana; PEMEX ST: IN: TRN SU: CON

MP-DH -- NY077 -- 6477 09/28/93 15:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 28, 1993
Words:202
Previous Article:COUTTS & CO. INTERNATIONAL PRIVATE BANKING OPENS BRANCH IN NEW YORK
Next Article:SPECTRUM INFORMATION TECHNOLOGIES GRANTED PATENT FOR DIRECTLY CONNECTING CELLULAR PHONES AND PERSONAL DIGITAL ASSISTANTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters