HMD has signed the contract for two 35,000dwt product/chemical tankers with Schoeller Holdings ltd. of Cyprus on Jan. 17, 2003.

Delivery of the first ship is set for the last quarter of 2004, with the subsequent ship following in the first quarter of 2005. Schoeller Holdings Ltd. is on of the largest shipping companies which operates a fleet of 60 vessels.

HMD has also signed letter of intent (L/I) for up to six 52,500dwt product/chemical tankers with a European owner. The confirmation is expected in Feb. Meanwhile, OMI declared its option for a second 37,000dwt product/chemical tanker on Jan. 20.