Vela orders six VLCCs

Vela International Marine Limited, a wholly owned subsidiary of Saudi Aramco, signed a contract with Daewoo Shipbuilding & Marine Engineering (DSME) to build six VLCCs at its Okpo yard in South Korea. The ships will be built to Vela’s high specifications and standards, including state-of-the-industry, high-technology systems and fittings.

Each ship will have a deadweight of about 318,000 tonnes, carry about 2.2 million barrels of crude oil and the first vessel is scheduled for delivery in the first quarter of 2008, with sister ships to follow at the rate of one per quarter.