NSCSA to Buy Ships

The National Shipping Company of Saudi Arabia (NSCSA) announced that the Board of Directors of The National Chemical Carriers (NCCNCC) (one of its affiliates) agreed in their meeting held on December 21, 2010 to sign a contract with SLS Shipbuilding Company of South Korea to purchase (2) Petrochemical tankers for a total price of approximately SAR (322.5) millions with expected delivery during the 1st half of 2011.

The company previously signed a contract with SLS to construct these (2) vessels for a total cost of SAR (367.5) million, but due to delay in the agreed delivery dates, this contract was cancelled on 19th May, 2010.

(Source: www.zawya.com)