Saudi Arabia: NSCSA Gets New Chemical Tanker NCC SAFA

The National Shipping Company of Saudi Arabia announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Thursday, 4th August 2011 in Korea a new chemical tanker named NCC SAFA with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of Nine (9) vessels previously contracted by NCC from this yard during 2006 – 2007 for a total value of approximately (SAR 1,721 Millions).

The financial impact of the delivered tanker on the company revenue will appear starting third quarter of the current financial year.

NCC has additional Seven (7) vessels under construction at SHINAsb in South Korea for a value of (SAR 1,354 Millions) with deliveries expected during 2011/12, in addition to one large chemical tanker of 75,000 DWT, to be constructed at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) of South Korea at the price of approximately (SAR 247 Millions) for delivery during 2013.