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January 29, 2002
Participation of the Omani Government in
LNG Carrier owned by MOL,
and Conclusion of Long-term Time Charterparty
Mitsui O.S.K. Lines, Ltd. ("MOL")
are pleased to announce that we have finally
settled with the Government of the Sultanate
of Oman ("Omani Government") regarding
Sale and Purchase of the share capital of
Greenfield Holding Company Limited, a Cayman
Islands company ("GHCL"), which
through a wholly owned subsidiary, Greenfield
Shipping Company Limited of Malta ("GSCL"),
owns a newly-built LNG carrier named the
"Lakshmi" ("the Vessel").
Further more, MOL hereby announce that 20
years Time Charterparty has been concluded
between the Omani Government and GSCL.
January 26th, 2002 at Bangkok, the relevant
agreements were signed by H E Ahmed Macki,
Minister of National Economy, the Sultanate
of Oman and Mr. Kunio Suzuki, President of
MOL.
While former shareholding in GHCL was MOL
60%, Enron 20% and SCI 20%, Enron's 20% was
acquired by MOL on November 20, 2001. The
Omani Government acquired a 40 % share in
GHCL from the MOL's shares of 80% which is
the sum of its origin share 60% and Enron's
20%. As the consequence of this transaction,
MOL and SCI keep shares of 40 % and 20 %
respectively.
From the middle of December 2001, the Vessel
has carried out the carriage of 2 cargoes
from Oman under the voyage charter agreement
with Oman LNG L.L.C.
The vessel was constructed for the DPC (Dabhol
Power Company) Project promoted by U.S. energy
major Enron and Indian Maharashtra State
Electric Board ('MSEB'). However due to the
disputes in relation with "Power Purchase
Agreement" between DPC and MSEB, the
Vessel will be entered into the charter with
the Omani Government for the export of LNG
from Oman, after termination of the charter
to DPC
This is the first project for the Omani Government
to participate in the LNG shipping. MOL has
a plan to establish the office in Oman so
that we, as the world's largest LNG transporter,
will contribute to Omani LNG business.
| S/S Lakshmi |
| Owner: |
GSCL |
| Flag: |
Malta |
| Built: |
November 15, 2002 |
| Builder: |
Mitsubishi Heavy Industries, Ltd. Nagasaki
Shipyard |
| Tank Capacity: |
135,000m3 |
| Tank Type: |
MOSS Spherical Type |
|