MISC, a wholly owned subsidiary of AET, has signed a contract to buy four very large crude carriers (VLCCs) from Daewoo Shipbuilding and Marine Engineering for $436m.
Each 20,000dwt ship will cost Misc $105m-$110m, the company said.
Go deeper with GlobalData
AET is planning to build a fleet of 150 tankers, including VLCCs and medium-range product tankers, to expand its lightering business in the US.
Lightering involves the transfer of cargo between ships of different sizes to facilitate the berthing of large ocean-going vessels at shallow ports.
The shipbuilder will deliver the tankers between December 2012 and October 2013.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
