National shipping company expected to order 10 vessels to transport liquid hydrocarbon products
Saudi Aramcoboard members have visited the worlds largest shipyard in South Korea amid speculation that its operations partner, the state-owned National Shipping Company of Saudi Arabia (Bahri), plans to buy 10 new tankers in the Asian state.
Saudi Arabian Oil Minister, Ali al-Naimi led the delegation to the Hyundai Heavy Industries shipyard at Ulsan in South Korea and was expected to sign a deal for the vessels that would be worth about $1bn.
South Korea, which viewed as a strategic trading partner by Riyadh and Saudi Aramco, gets 34 per cent of its oil from the kingdom, equating to more than 780,000 barrels a day.
The move follows a trade delegation to Saudi Arabia led by South Koreas President Park Geun-hye in early March aimed at increasing trade links.
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