|
May 14, 2003
MOL Concludes Comprehensive Support Contract
in Developing
National Shipping Industry with Government
of Oman
TOKYO, JAPAN - Mitsui O.S.K. Lines, Ltd.
("MOL"; President Kunio Suzuki)
today announced MOL and The Government of
the Sultanate of Oman ("GOSO")
concluded a comprehensive service support
contract with Oman Shipping Company and Oman
Shipmanagement Company aimed at developing
the ocean shipping industry in Oman. MOL
President Suzuki and Oman Minister of National
Economy Ahmed Macki signed the contract at
the MOL head office in Tokyo on May 14.
Oman is well known as an oil-producing nation.
Production of liquefied natural gas (LNG)
has steadily grown since 2000, when Oman's
LNG plant was completed. In 2002, Oman produced
about 6.6 million tons of LNG. Oman plans
to produce about 10 million tons of LNG per
annum when additional plants are completed
in 2006.
In addition, GOSO places a high priority
on the development of the ocean shipping
industry, aiming to transport its own LNG
to LNG buyers. In 2002, GOSO participated
in a joint venture with MOL on two LNG carriers
(the Sohar LNG and another LNG carrier that
is under construction). Furthermore, GOSO
has worked to establish shipowning and ship
management companies, with the final goal
of a full-scale ocean shipping industry that
includes ship management, manning, and operation,
as well as ownership.
MOL opened its Muscat office in April 2002
to develop Oman-based shipping business.
With the above-mentioned contract, MOL can
use its decades of accumulated know-how in
the LNG transport business to offer a wide
range of support services concerning newly-built
LNG carriers for expanded LNG plants, vessel
ownership, ship management and ship operation.
At the same time, MOL will train Omani personnel
in various aspects of shipping, including
crews for the vessels.
The new contract involves MOL in a wide range
of ocean shipping industry development projects
in Oman, as well as in the transport project
with the LNG carriers mentioned above.
|