SAUDI ARABIA

SADAF Leases Petrochemical Carrier 

The Saudi Petrochemical Company (SADAF) - a 50/50 joint venture between the Saudi Basic Industries Corporation (SABIC) and Pecten Arabia, an affiliate of US Shell - on 10 November signed a SR460mn ($129mn) charter-party agreement with the National Shipping Company of Saudi Arabia and the United Arab Shipping Company to lease a 41,500 dwt carrier which will be built by the two shipping companies specifically for the shipment of...