VOL. XL

No. 8

24-February-1997

UAE

Dubai Investments/Mobil Announce New Shipping Venture

Dubai Investments - a UAE company set up in 1995 with a capital of $355mn - and Mobil Shipping and Transportation Company (a subsidiary of Mobil of the US) announced on 16 February that they had set up a 50/50 joint venture company capitalized at $40mn which will mainly carry crude oil for Mobil. The venture - Dubai Mobil Shipping Company (Dumoco) - has already purchased the 300,000 dwt Eagle, a double-hull...