The National Shipping Company of Saudi Arabia announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Friday, 15th April 2011 in Korea a new chemical tanker named “NCC HUDA” with DWT of 45,000 tons from SLS Shipbuilding Co. Ltd. of South Korea, as part of two vessels previously purchased by NCC from SLS on 21/12/2010 for a total price of approximately (SAR 322 Millions) for the two tankers. The vessel started her operation from 15/4/2011 and the financial impact of the delivered tanker on the company’s revenue will appear starting second quarter of the current financial year.
NCC has additional nine vessels under construction at SLS in South Korea costing (SAR 1,721 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 (SAR 247 Millions) for delivery during 2013.
SLS Shipbuilding Co., Ltd (SLS) , one of the oldest shipbuilders in Korea, is located in Tongyeong, the southern tip of Korea peninsular – the world famous field of shipbuilding activity.
SLS is the combination of “SKY”, “LAND” and “SEA”. This means that all the members of SLS have the will and hope to continue to achieve higher dreams and goals in the sky, on the land and sea.
SLS stared the shipbuilding business in 1946, mainly building small fishing boats. During their history of last 60 years, the company was re-launched as a true expert in building medium size product and chemical tankers in the world with a firm vision to make a strong company.
Though the company is small, based on differentiated technology and excellent product quality, SLS is very competitive and keeping a firm position in the field of 40,000 ~ 50,000 DWT product and chemical tanker building.
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Source: NSCSA, April 17, 2011.