One of ships was built in 1989 and the other two were built in 1990. Deliveries to OMI are expected during February.
OMI said that it will issue approximately 2.65 million shares of its common stock at $7.00 per share as partial payment and will finance the remainder of the purchase price.
OMI said that it is acquiring the vessels during a strong market.
The transaction follows the recent takeover of Osprey Maritime Ltd. by the John Fredriksen/Frontline Ltd. group.
OMI operates a fleet of 22 vessels, consisting of six wholly-owned Suezmaxes, one bareboat-chartered Suezmax, one time-chartered Suezmax, eight handysize product carriers, two handymax product carriers, three Panamax-deadweight product carriers which carry crude oil and one ultra large crude tanker.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now