18Sep2004 Saudi/Korean shipbuilding project

Riyadh, Sept 18, SPA -- The National Shipping Company of Saudi Arabia (NSCSA) has signed a letter of intent with South Korea's Hyundai Heavy Industries Company for building two gigantic ships, each with a capacity of 318,000 tons. The two ships will be delivered by the end of the third quarter of 2007.

It is worth mentioning that NSCSA owns nine gigantic ships, three of them are working at the spot market, while the remaining six are rented by international companies.

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