Aramco visits Hyundai Heavy in S. Korea- report

Shipping arm of Saudi Aramco said looking to buy up to ten tankers

Saudi crude oil tanker.
Saudi crude oil tanker.

Board members of Saudi Aramco visited the headquarters of South Korea's shipbuilder Hyundai Heavy on Tuesday, as Aramco's shipping arm looks to buy up to ten tankers, Reuters reported.

All of the vessels the National Shipping Company of Saudi Arabia (Bahri) is seeking are 320,000 deadweight tonnes, the report said.

It added that the deal could be worth about $1bn, based on data from Clarkson, the British shipbroking house, which puts the price of the tankers of this size at $96.5mn.

Oil Minister Ali al-Naimi and chief executive officer Khalid Al-Falih were among Aramco's delegation visitng Hyundai Heavy's headquarters, about 300 km (185 miles) southeast of Seoul.

Saudi Aramco board members are in South Korea this week for a board meeting.

 

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