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Author Topic: MC Shipping Acquisitions - Windermere, Ullswater and Grasmere  (Read 1106 times)
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« on: June 16, 2007, 01:50:16 pm »

Hi All

Came across this press release from MS Shipping Inc:

'MONACO (June 14, 2007): MC Shipping Inc. (AMEX: MCX) announced today that it has agreed to acquire three liquefied petroleum gas (LPG) vessels from the Komaya Group of Japan. The vessels, Windermere, Ullswater and Grasmere built in 1995, 1996 and 1997, respectively, are fully pressurized LPG tankers of 6,500 to 7,200 cbm capacity each.
The acquisition is being funded out of current cash holdings and a facility from one of the Company's regular financiers.
The vessels are expected to be delivered before August 15, 2007. Simultaneously with the purchase,they will be time-chartered to Vitol SA, a major international oil and gas trading company for initial periods of up to 3 years.'
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