NO. 15


Saudi Arabia

Mitsubishi Wins Bidding For Five VLCC Newbuildings From NSC

The National Shipping Company of Saudi Arabia (NSC) has delivered a letter ofintent to Japan's Mitsubishi Heavy Industries for five VLCC newbuildings. Thefive-ship deal, which came amid stiff competition from both European and FarEast shipyards, is worth $550mn, or some $110mn each, Japanese shipbuildingsources tell MEES. Construction of the 300,000-dwt supertankers is set to beginthis year,...