ENOC awards $70 million tanker contract to Hyundai Heavy Industries
Dubai Shipping Company, a subsidiary of Emirates National Oil Company (ENOC), has awarded South Korea's Hyundai Heavy Industries a $70 million contract for the building of two high specification double-hulled tankers.
The tankers, each with a 75,000-ton capacity, will be built in Hyundai’s yard in Korea and are due for delivery in 2005. The two vessels will join a growing DSC fleet, which currently comprises $150 million worth of oil and chemical tankers trading worldwide.
Emirates Bank International was selected as the financing partner following a close successful and long-term relationship with ENOC.
Apart from owning and operating a fleet of oil and chemical tankers trading worldwide, DSC provides ship management services to both technical and commercial for the vessels. The entire fleet of DSC vessels trade globally with major oil companies and are chartered by a growing list of international clients
The company is a licensed shipping agent for Dubai’s main ports as well as Fujairah Port. It handles agency work for other ship owners, including the supply of spare parts and the expedition of crew movements. — (menareport.com)
© 2003 Mena Report (www.menareport.com)