Sonatrach buys first VLCC
New Ocean Shipping Venture (NOVSL), a joint venture (JV) of Sonatrach Petroleum Corporation (SPC) and Japan's Kawasaki Shipbuilding Corporation (KSC), has placed a contract for a very large crude carrier (VLCC) with NanTong COSCO KHI Ship Engineering (NACKS). The 333-metre-long vessel, costing $120 million, has a crude oil capacity of 315,000 cubic metres and is SPC's first fully-owned VLCC. Construction of the carrier will begin in February 2007, with delivery expected in December. The ...
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