3 COMPANIES TO RUN FORMER SOVIET TANKERS

3 COMPANIES TO RUN FORMER SOVIET TANKERS

Companies from three nations have teamed up to form a pool to operate 10 new oil-bulk-ore carriers originally ordered by the Soviet Union.

The ex-Soviet shipowner Sovcomflot, along with China's Sinochem and Norwegian shipowner Kristian Gerhard Jebsen Skipsredri A/S will each have a one-third interest in the pool, to be called Sks Obo Ltd.The pool will become active this month. It will eventually operate all 10 of the 96,000-deadweight-ton ships. Each vessel is capable of carrying either crude oil, coal or iron-ore cargoes.

Four of the ships from Hyundai Heavy Industry Co.'s Korean shipyard already have been delivered.

The remaining six are expected to be completed by July and will be delivered to subsidiary companies of the three owners.

Although plans call for eventual operations of the pool from London, Kristian Gerhard Jebsen Skipsredri will manage it for the time being.

London shipbroker Simpson, Spence & Young helped broker the deal, Kristian Gerhard Jebsen Skipsredri said.