GENERAL

UASC Signs $27mn Contract with Daewoo for Petrochemical Carrier 

The Kuwait-based joint-venture shipping firm the United Arab Shipping Company (UASC) has signed a contract with Daewoo Shipbuilding and Heavy Machinery Company of South Korea for the construction of a 42,500 dwt petrochemical carrier costing $27mn. The new carrier - which will be in operation by mid-1986 - is to be used for the export of Saudi petrochemical products under a 17-year charter-party agreement...