Ocean Tankers Acquires New Ship

Ocean Tankers Holdings Public Company Ltd (OCT) announced that within the framework of the company’s policy for the improvement of its fleet, it has reached an agreement for the purchase of a tanker of new generation. The new tanker is the M/T Montauk, year of Manufacture 1999 under US flag, registered with the American Bureau of Shipping – ABS. The total capacity of the vessel is 5771 DWT at the price of US$10.825.000 The ship will be registered in the Cypriot shipping register under the name M/T KALIA. For the acquisition of the ship it has already paid 10% of the purchase price (USS1,082,500) in advance. The acquisition of the new tanker is expected to extend further the company’s turnover and to have positive effect on the profitability of 2007 and of the next years. Source: Financial Mirror