In February, NITC issued a tender to shipyards for the construction of five 1-million-bbl Suezmax tankers and five 2-million-bbl VLCCs.The oil has to get to China -uh- the buyers somehow.
Altogether, NITC has announced plans to order 35 vessels to be built by 2010, including 20 chemical tankers and 10 LNG carriers.
"We must be ready to dare all for our country. For history does not long entrust the care of freedom to the weak or the timid. We must acquire proficiency in defense and display stamina in purpose." - President Eisenhower, First Inaugural Address
Tuesday, May 24, 2005
Iran picks South Korea's Daewoo for VLCC contracts
Iran is ordering 3 318,000-ton very large crude carriers from Daewoo as reported here. It's part of a National Iranian Tanker Co. (NITC) ship building boom:
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