Middle East Economic Survey
NSCSA/NCC Have 12 New Vessels On Order
The National Shipping Company of Saudi Arabia (NSCSA) in September ordered two VLCC crude carriers from South Koreas Hyundai Samho Heavy Industries for delivery in August/September 2007. Each of the two 318,000 tons dwt vessels is costing $105mn. Also, each will be equipped with a 348,500 cu ms cargo oil (including slops) tank, and operate at a speed of about 16.7 knots. At present,...