Pertamina, Hyundai sign VLCC construction contract
Thursday, March 27 2003 - 04:17 AM WIB
State oil and gas company on Thursday formally signed contract for two units of very large crude carriers (VLCC) with South Korean shipmaker Hyundai Heavy industries.
The 260,000 DWT VLCCs will be constructed in Hyundai?s Ulsan shipyard in South Korea and cost for each unit is US$ 65,4 million. Tankers will be delivered in September and December 2004.
Pertamina upstream director Muchsin Bahar said the ships would be used to transport Pertamina?s crude from Middle East to Cilacap refinery.
Muchsin said contract for ten other smaller tankers would be signed soon, of which six units will be awarded to overseas shipyards. (alex)