Middle East Economic Survey
NITC Selects South Korean Yards To Build 10 Tankers
The National Iranian Tanker Company (NITC) has selected South Koreas Hyundai and Daewoo to build 10 crude oil tankers under contracts worth a combined $1bn. The company expects to sign the construction contracts during the next few weeks, following the issuing of a tender in February. Hyundai will build four 318,000 dwt very large crude carriers (VLCCs) and Daewoo will build two...