Page 12: of Maritime Reporter Magazine (April 1989)

Ocean Specialty To Charter

U.S.-Flag Product Carriers

From OMI, Hvide Shipping

Ocean Specialty Tankers Corpo- ration (OST), a newly formed Hous- ton-based company, recently an- nounced an agreement in principal to long term charter three modern

U.S.-flag parcel vessels from OMI

Corporation and Hvide Shipping,

Inc.

The vessels, OMI Dynachem,

OMI Hudson and Seabulk Magna- chem, are all in the 40,000 to 50,000 deadweight tonnage range. It is planned that OST will acquire cer- tain assets and business interests from Seabulk Ocean Systems Cor- poration, an Hvide Shipping affil- iate, and OMI Corp., and will ex- pand on existing bulk liquid parcel services to U.S. East and West

Coasts. Additionally, OST has agreed to charter the Seabulk Amer- ica, which is expected to undergo reconstruction shortly in a U.S. shipyard. The Seabulk America will add 41,000 deadweight tons of new capacity to the Jones Act parcel trade. The unique aspect of the Sea- bulk America is that she has a sig- nificant amount of stainless steel capacity.

OMI Inc. is a publicly held major bulk shipping company operating in both the international and U.S. domestic markets.

Hvide Shipping, Inc., is a private- ly held U.S. flag owner and operator with significant interests in the shipping industry. >r a n d a 11

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Circle 240 on Reader Service Card 14 Maritime Reporter/Engineering News

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