MODEC, Inc. (“MODEC,”), Mitsui & Co., Ltd. (“Mitsui”), Mitsui O.S.K. Lines, Ltd. (“MOL”) and Marubeni Corporation (“Marubeni,”) have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business (“the Project”) currently promoted by MODEC for the purpose of providing a floating production, storage, and offloading system (“the FPSO”) for use in the Marlim field off the coast of Brazil.
Representation Image – Credits: modec.com
The above four companies (“the Companies”) have...