GulfNav inks VLCC newbuild charter deals

Dubai-based Gulf Navigation will double the size of its VLCC fleet to four after announcing a newbuildings deal with a Chinese shipyard. GulfNav has penned a AED1bn ($285m) deal with the yard’s parent, Grand China Logistics, to charter the ships for 10-years from delivery. The twin 320,000-dwt vessels will be built at Jinhai Heavy Industry for delivery in December 2012 and May 2013.
(Source:http://www.seatrade-asia.com)