AIRBUS INDUSTRIE TO CHARTER VESSEL
Airbus Industrie G.I.E. has entered into an agreement with the joint venture of FR.E.T. S.A., a French subsidiary of Louis Dreyfus Armateurs (LDA), and CETAM, a French subsidiary of Lief H'egh & Co. ASA to time charter a vessel for Airbus' A380 program.
The agreement calls for a time charter of one vessel, to be delivered in 2004, and an option for a second vessel, for delivery in 2007. Both ships would be under a 20-year time charter, with five two-year options. The ships will fly the French flag and be used for inter-Europe transport of aircraft components.
Lief H'egh is heavily involved in roll-on/roll-off transportation through its subsidiary HUAL, controlling more than 40 deep-sea vessels. FR.E.T. specializes in heavy-lift and over-dimensional cargoes, and will be LDA's operational arm in the joint venture.