Iran Orders Five VLCCs From South Korea痴 Hyundai
The National Iranian Tanker Company (NITC) has ordered fiveVLCCs from South Korea痴 Hyundai Heavy Industries Company. NITC already has 10VLCCs under construction with South Korea痴 Daewoo, with the first deliveryscheduled in September of this year (see table below). The Hyundai contract isworth around $400mn and will be financed by South Korean banks. Meanwhile, MEESunderstands that NITC was to have confirmed a...