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NSCSA Received New Chemical Tanker NCC DANAH

Source: www.gulfoilandgas.com 10/5/2011, Location: Middle East

The National Shipping Company of Saudi Arabia announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Tuesday, 4th October 2011 in Korea a new chemical tanker named NCC DANAH with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of Nine (9) vessels previously contracted by NCC from this yard during 2006 - 2007 for a total value of approximately (SAR 1,721 Millions).

The financial impact of the delivered tanker on the company revenue will appear starting fourth quarter of the current financial year.

NCC has additional Five (5) vessels under construction at SHINAsb in South Korea for a value of (SAR 975 Millions) with deliveries expected during 2011/12, in addition to one large chemical tanker of 75,000 DWT, to be constructed at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) of South Korea at the price of approximately (SAR 247 Millions) for delivery during 2013.

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