NO. 52


Saudi Arabia

Vela Sets Deadline for Bids for Saudi Tanker Deal

Saudi Arabia's Vela has reportedly fixed 23 October as the deadline for the submission of bids for thesix 280,000 dwt VLCC tankers it wishes to purchase at the cost of up to $100mneach. It is understood that three Japanese, two South Korean and two Europeanyards have shown interest in the project. Vela prefers to buy the six vessels asa package but is also open to offers to construct part of its needs....