VOL. XL

No.24

16-June-1997

IRAN

South Korea's Daewoo To Build NITC's New Tankers

South Korea's Daewoo Heavy Industries announced last week that it hadwon a $300mn contract to build five 158,000 dwt Suezmax crude tankers for the NationalIranian Tanker Company (NITC) - a wholly-owned subsidiary of the National Iranian OilCompany (NIOC). The contract was signed on 21 May in Seoul during the visit of the IranianOil Minister, Mr. Gholamreza Aghazadeh, to South Korea (MEES, 26 May).

NITC's Chairman,...