Saudis revive order for two chemical tankers

The total contract price quoted is about SAR 322.5 million, and the delivery date is given as being during the first half of 2011.

The company points out that it had previously signed a contract with SLS to construct these two vessels for a total cost of SAR 367.5 million, but due to delay in the agreed delivery dates, this contract was cancelled in May, 2010. The resumed order is said to have have achieved an estimated overall saving of SAR 45 millions in the procurement of these vessels and the company says that it has received all financial premiums paid plus other related costs.

NCC has other, active, contracts with SLS Shipbuilding of Korea to build nine tankers that are expected to be delivered during the next two years.