Chinese Shipyards to Deliver First of Twelve VLCCs to NITC

In May, the first of the 12 commissioned supertankers is supposed to be delivered to Iranian oil shipping operator NITC from two Chinese shipyards. From the total of 12, seven of the very large crude carriers (VLCCs) are expected to be delivered by the end of the year. Another four are supposed to be commissioned by the end of 2013. The total worth of the contract is $1.2 billion.

A Beijing-based oil executive said: “These new tankers now carry more weight in this sanction environment.” The first of these tankers has the capacity of 318,000 deadweight tonnes.

All of the vessels were commissioned at Waigaoqiao Shipbuilding Co. Ltd, a unit of China CSSC Holdings Ltd, Shanghai, and Dalian Shipbuilding Industry Co. Ltd, northeastern port Dalian very large, according to Reuters.

With a total transporting capacity of 24 million barrels of crude, the 12 vessels will be a significant expansion to NITC’s tanker fleet.

Privatised in 2000, NITC, formerly known as the National Iranian Tanker Company, is now owned by three Iranian pension funds. It operates a fleet of 39 vessels including 25 VLCCs.

[mappress]

Shipbuilding Tribune Staff, April 13, 2012; Image: chinasws