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MOL links with Oman Shipping Company

MOL links with Oman Shipping Company

Tokyo: Mitsui O.S.K. Lines, has signed a memorandum of understanding with Oman Shipping S.A.O.C. (OSC), the national shipping company wholly owned by the government of Oman. OSC Chairman and Minister of National Economy Ahmed bin Abdulnabi Macki and MOL President Akimitsu Ashida signed the agreement on May 25 at the MOL Head Office.

'The government of Oman continues to develop new petrochemical and gas related projects, generating new demand for shipping services and transport of raw materials. To jointly meet this expanding demand, the memorandum between MOL and OSC covers the dry bulker business, in addition to LNG carriers and oil tankers. With this memorandum, MOL will become more deeply involved in Oman's ocean shipping business, and will contribute to the nation's economic growth,' MOL said in a release.

MOL and OSC also agreed to establish a new company that will own a new LR2-type product tanker on the same day. Each company will hold a 50% share.

MOL and OSC jointly own six LNG carriers already in service and five in all tankers and large LPG carriers that have been ordered, and concluded a comprehensive business tie-up regarding support for the growth of Oman's ocean shipping industry in 2003.  [29/05/07]