OMI keeps focus on three-, five-year charters
OMI Corp. has chartered one of its mid-range product carriers for a three-year period to El Paso.
The new charter rate exceeds the expiring rate by about $2,000 per day. “We continue our strategy of time chartering sufficient product carriers for three to five year periods to assure our profitability even if markets turn weak,” said Craig H. Stevenson Jr., chairman and chief executive officer for the Stamford, Conn.-based tanker operator.
OMI operates 41 crude oil tankers and product carriers.
In addition, the company said it purchased 391,000 shares of its common stock Wednesday, at the average price of $17.04 per share.
OMI keeps focus on three-, five-year charters
