Oct 30 2008 |
more articles from
|
Hanjin hires two Saudi VLCCs
Riyadh-based National Shipping Company of Saudi Arabia (NSCSA) has hired two VLCCs (very large crude carriers) to South Korea's Hanjin Shipping Company for five years.A $198 million (Dh728m) contract has been signed for Hanjin Shipping to begin operating the supertankers from the second half of next year, according to sources.
An NSCSA official has been quoted saying that the Saudi tanker owner operates 13 VLCCs at present, with another four, which are under construction.
Delivery of those four VLCC newbuilds has been slated for end-2009, and there has been no indication of problems with financing or credit facilities for the new buildings.
NSCSA , which achieved a 65 per cent year-on-year increase in net profit for the first half of this year, is 29-per cent owned by the Saudi Arabian Government while Saudi investors hold the remaining stake.
NSCSA was established in 1979 and is one of the largest providers of maritime services in the Middle East.
The company and its subsidiaries purchase, charter and operate vessels for the transportation of crude oil, chemicals and general cargo.
NSCSA is holding a 30.3 per cent stake in the Bermuda-based liquified petroleum gas trading and ship-owning company, Petredec (Tankerworld).
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment