By Lynne Roberts
Dubai firm will build four medium range product tankers in its biggest ever deal.
Ship repair and conversion company Dubai Drydocks has won a contract with Singapore firm Navig8 to build four medium-range product tankers, Gulf News reports.
The $175m deal is the biggest ever signed by the company, part of Dubai World. It
includes an option for a further four vessels and the company hopes it will enable it to move towards building larger merchant ships.
Work on the first of the four chemical carriers is scheduled to start in May 2008. The vessels will be delivered between 2009 and 2010. The Korean designs will comply with the latest common structural rules.
Managing director Nawal Saigal said “This is the largest contract in terms of total value that Dubai Drydocks has signed so far. With this agreement, Dubai Drydocks takes on the challenging task of building a new range of medium range tankers.”