Seoul: The Overseas Shipholding Group (OSG) and South Korea-based SPP Plant and Shipbuilding Company have signed a contract for the construction of four 73,500dwt coated Panamax product LR1 tankers for delivery in 2010 and 2011.
In a statement, OSG said, 'As product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base. Larger size product carriers are more economical for customers, are a more flexible vessel and augment the Company's diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas (LNG) vessels.'
Upon delivery of the newbuilds, OSG will boast a total fleet of 147 vessels including 40 vessels, which are slated for delivery between 2007 and 2011. [31/08/07]
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