OMI sheds two single-hull product carriers

OMI sheds two single-hull product carriers    OMI Corp. will sell two single-hull product tankers, the “Racer” and “Rain,” which were built in 1989 and 1990 respectively.
   A loss on the sale of about $8 million will be shown in the Stamford, Conn.-based tanker and product carrier operator’s third quarter financial report. “We will continue our policy of shedding older assets as opportunities arise,” said Craig H. Stevenson Jr., chairman and chief executive officer of OMI.
   OMI’s fleet comprises 40 vessels. The company has on order five 37,000 deadweight ton ice class 1A product carriers scheduled for delivery in 2004 and 2005. Three of the ships will commence five-year time charters at the time of delivery.