NO. 37


Saudi Arabia

Saudi Arabia Acquires Two Newbuilt ULCC Tankers

Saudi Arabia's Vela is reported to have purchased two new ULCC tankers, builtin 1989, from Sweden's Gotaas Larsen at a total cost of around $170mn. These arethe Golar Cordelia (already under five-year time-charter to Vela) and the GolarKlementine, both of 304,707 dwt.

According to Petrostrategies, Vela now controls a tanker fleet of 20 ULCC/ULCCstotaling 7mn dwt, of which 6 totaling 1.86mn dwt are owned and...