NO. 29


Saudi Arabia

Vela To Stop Chartering Tankers Over 20 Years Old

Saudi Aramco's tanker arm, Vela International Marine, has given notice thatafter 31 December 1994 its chartering department will no longer accept vesselsthat are over 20 years old. Saudi Petroleum Overseas issued a notice to Vela'spanel brokers to the affect that the only exception to this new rule will betankers which are able to prove before that date that they have achieved a highrating on one of the...