Q-Ship sells on aframaxes

Doha: Qatar Shipping Co says it has delivered the first of two aframax newbuildings to a Singaporean company. The vessels are 105,000dwt tankers completed by Hyundai Heavy Industries this summer, Q-Ship realising a $33m profit on the $69m deal to sell them on. The company, which is 52% owned by individual shareholders with state-run Qatar Pateroleum holding 15% and Qatar Navigation CO 16%, currently operates nine crude/product tankers, nine LNG carriers and three lpg carriers plus another four on order.  [03/10/06]