Sonatrach, Kawasaki Sign Tanker Contract

Tuesday, June 13, 2006
Reuters has reported that a new joint venture of Algerian energy group Sonatrach and Japan's Kawasaki Shipbuilding Corporation signed a $120m deal to buy a tanker from a Chinese-Japanese firm, Sonatrach said. The 50-50 venture set up on Tuesday, called NOVL, signed the purchase agreement with NACKS Shipyard, a joint venture between Chinese company COSCO and Kawasaki , Sonatrach said in a statement on its Web site. Construction of the very large crude carrier (VLCC), with a capacity of 315,000 cubic metres, will begin in China from next February for delivery in December 2007, the statement said. Banks will finance 80 percent of the purchase value, while Sonatrach and Kawasaki are set to ensure the remaining 20 percent, it added. Source: Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0662 sec (15 req/sec)