OSPREY, OMI MERGE PRODUCT TANKERS
Osprey Maritime Ltd. and OMI Corp. will consolidate their product tanker
operations into a new company, International Product Carriers Ltd.
The new venture will operate 26 medium-range product carriers on
long-term charter from OMI and Osprey. The companies said they plan to
expand the new company’s fleet size to between 50 and 60 ships during the
next 18 to 24 months.
Osprey and OMI will staff the new company for the first six to nine
months. After that, it will be run by its own people.