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Saudi Arabia's NCC to procure 10 chemical tankers

Article-Saudi Arabia's NCC to procure 10 chemical tankers

Saudi Arabia's NCC to procure 10 chemical tankers

Seoul: Saudi Arabian shipping company National Chemical Carriers (NCC) is set to procure 10 chemical tanker newbuildings. NCC recently signed an agreement with Samba Financial Group for a $392 million loan facility to finance 80% of the total costs of constructing 10 chemical tankers. Details such as ship type have yet to be released.
NCC is a chemical tanker operator owned 80% by National Shipping Company of Saudi Arabia (NSCSA) and 20% by Saudi Basic Industries Corp. (SABIC). NCC currently has 14 vessels with a total capacity of 554,000 dwt under its operational control, and has a total of 18 vessels centering on 45,000-46,000-dwt ships on order. Of these, two units are now under construction at Hyundai Mipo Dockyard (HMD) (pictured) for completion in 2008. The remaining 16 ships have been recently ordered from SLS Shipbuilding for completion between 2009 and 2011. [19/12/07]

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