Japan's Mitsui Lines wins chemical transportation contract.
Mitsui O.S.K. Lines Ltd. has signed long-term contracts with Methanol Holdings (Trinidad) Ltd. to operate three ships dedicated to the transport of urea ammonium nitrate solution. Two of the ships can each hold 47,000 tons of UAN solution, while the third can hold 36,000 tons. * All three were built by South Korean firm Hyundai Heavy Industries CO. and are the world's first ships dedicated to the transport of UAN solution.
* The contracts last for 15-20 years and will give Mitsui O.S.K. a stable source of shipping revenue to the tune of two billion yen (US$22 million).