Saudi shipping firm receives new chemical tanker

Saudi shipping firm receives new chemical tanker

12:15 PM, 18th June 2011
Saudi shipping firm receives new chemical tanker

RIYADH, SAUDI ARABIA: The National Shipping Company of Saudi Arabia announces that its 80 per cent owned subsidiary company The National Chemical Carriers Ltd Co (NCC) received on Friday, 15th April 2011 in Korea a new chemical tanker named “NCC HUDA” with DWT of 45,000 ton from SLS Shipbuilding Co Ltd of South Korea, as part of two vessels previously purchased by NCC from SLS on 21/12/2010 for a total price of approximately SAR 322 million for the two tankers. The vessel started her operation from 15/4/2011 and the financial impact of the delivered tanker on the company’s revenue will appear starting second quarter of the current financial year.

NCC has additional nine vessels under construction at SLS in South Korea costing (SAR 1,721 million) with deliveries expected during 2011/12, in addition to one large chemical tanker of 75,000 DWT, to be constructed at Daewoo Shipbuilding and Marine Engineering Co Ltd (DSME) of South Korea at the price of (SAR 247 million) for delivery during 2013.

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