OMI to disclose tanker rates

OMI to disclose tanker rates    Stamford, Conn.-based OMI Corp., international owner and operator of crude oil tankers and product carriers, said Monday it will start announcing average daily time charter equivalent rates on its booked tanker fleet.
   Time charter equivalent rates are derived by calculating revenue from vessels operating on time charters and voyage revenue, less voyage expenses from vessels operating in the spot market, and dividing by the number of days in the applicable period.
   As of Sept. 23, OMI said its time charter equivalent rates are:
   * 18 “Suezmax” vessels on spot — $30,500.
   * Two “Suezmax” vessels on time charter — $30,000.
   * Nine Product carriers on spot — $22,500
   * 21 Product carriers on time charter — $15,200.
   In a separate development, OMI said it has agreed to sell the 1998-built “Suezmax” vessel “Sabine” during the fourth quarter for about $27.5 million to an unnamed buyer. OMI has also entered into a 12-month time charter agreement, commencing in October, for the vessel “Thames.” OMI said the time charter will bolster its revenue by about $10.8 million.