DUBAI - Emirates National Oil Company (ENOC) LLC has commissioned Dubai Drydocks to build four 6,200 dwt tankers for its 100 per cent subsidiary Dubai Shipping Company LLC (DSC) for a total contract value of approximately $40 million.
This is the first time the ENOC Group has ordered new-build vessels from a local shipbuilder and they will be the first large double hull tankers to be constructed in the UAE.
Gulf Energy Maritime (GEM), on behalf of DSC, is managing the project. ENOC is one of the shareholders in GEM, which has built up experience of 11 new tanker-building contracts to date.
The 102 metre-long modern, high spec petroleum product carriers are double hulled, twin propulsion vessels, with a bow thruster for added manoeuvrability.
The vessels will join the DSC fleet, and will be on a 10-year time charter to D&K Holdings, which operates the ENOC Bunkering (Fujairah) joint venture. ENOC Group Chief Executive and Board Member, Hussain Sultan and Dubai Drydock's Chief Executive Officer, Geoff Taylor at a ceremony at ENOC House in Dubai, signed the contract for the project.
Hussain Sultan said: "This is a major new-build programme for our bunkering operations and as the 'Energy Partner of Choice' it is appropriate that these vessels will be built in the UAE.
Geoff Taylor, Chief Executive Officer, Dubai Drydocks, said: "It is very gratifying to have fended off some fierce international competition which positions us for further success on the global market." Construction of the first vessel will begin in April 2005 with delivery scheduled for the first quarter of 2006.BY A STAFF REPORTER
© Khaleej Times 2004
