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MITSUI O.S.K. AND EXMAR SIGN TANKER CONTRACT WITH EL PASO

MITSUI O.S.K. AND EXMAR SIGN TANKER CONTRACT WITH EL PASO

   Mitsui O.S.K. Lines and Exmar, the gas tanker division of Compagnie Maritime Belge, have signed a long-term charter party with El Paso Corp. for two further liquefied natural gas tankers.

   The agreement extends to four the total number of vessels contracted.

   The ships will be built by Daewoo Shipbuilding & Marine Engineering with a capacity of approximately 138,000 cubic meters and are scheduled to be delivered from 2004.