NO. 18


Saudi Arabia

Saudi Arabia Orders Three More VLCC Tankers

Saudi Aramco's tanker arm, Vela International Marine, has finalized an orderworth around $480mn for three VLCC tankers (over 300,000 dwt each) with theDanish shipbuilder, Odense Staalskibsvaerft, due for delivery in 1994 and1995. The deal with the Danish shipyard is part of the second phase of SaudiArabia's program to expand its tanker fleet capacity. At the end of last year,Odense and South Korea's Hyundai...