Sonatrach Petroleum and Kawasaki Shipbuilding Create Joint Shipping Venture

摘要

Sonatrach Petroleum Corporation BVI(SPC)and Kawasaki Shipbuilding Corporation have signed an association agreement providing for the creation of a 50:50% joint venture to be called New Ocean Shipping Venture Ltd.(NOVSL).The same day NOVSL signed a contract with the Chinese shipbuilding company Nacks Shipyard for the acquisition of a very large crude carrier(VLCC),which will be 333 meters long and have a capacity of 315,000 cu m.This will be the first crude tanker of its kind ordered by SPC BVI and will be built in Nacks' shipyard in China,which is the largest in the world.Nacks is a joint venture between Kawasaki and the Chinese company Cosco.The ship will cost 120 million to build,and NOVSL will finance 80% of the cost of its acquisition through bank borrowings,with the other 20% consisting of equity subscribed by SPC BVI and Kawasaki.