NO. 17


Saudi Arabia

NSC Defends Its Decision To Award Mitsubishi Letter Of Intent For VLCCs

The decision earlier this month by the National Shipping Company (NSC) ofSaudi Arabia to award Japan's Mitsubishi Heavy Industries a letter of intent forfive VLCC newbuildings has been criticized by Mitsubishi's competitors in thebidding for the project, prompting NSC on 16 January to issue a statement indefense of its action. As reported in MEES (10 January), the cost of the...