IMC To Construct $32.1 Million Chem Tanker

Shipping and trading company IMC Holdings Ltd. on Thursday said it plans to build a $32.1 million chemical tanker in China, scheduled for delivery on May 31, 2003.

A company statement said that IMC plans to fund 70 percent of the $32.1 million with loans and the other 30 percent with its internal resources. IMC signed the building contract with China Shipbuilding Trading Co Ltd in Beijing, as well as China and Dalian Shipyard in Dalian.