VOL. XXXVII

NO.6

8-NOVEMBER-1993

Saudi Arabia

NSC ApprovesPlans To Build New VLCC Tankers

The Board ofDirectors of the National Shipping Company (NSC) of Saudi Arabia last weekapproved plans to build five new very large crude carriers (VLCC). Thedouble-hull tankers will have a capacity of 300,000 dwt each and their totalcost was previously estimated by NSC at between $400mn and $700mn. NSC has alsoset up a committee to negotiate with more than 12 shipyards which arecompeting for the tanker...