NITC to order 12 VLCCs to China

Iran's state-owned tanker owner National Iranian Tanker Co (NITC) has reportedly confirmed it will order 12 very large crude carriers in China on the strength of guarantees from China's export-import bank. Brokers in the sale-and-purchase market said that NITC is confirming it will take six VLCCs at Shanghai Waigaoqiao Shipbuilding (SWS) and six at a second yard that has not been identified, but is probably Dalian Shipbuilding Industry Co (DSIC).
It was reported earlier that aggressive marketing of Chinese shipping loans was luring in foreign owners looking to place newbuilding orders.
NITC has been in discussions about 320,000-dwt units, with six copies at each shipyard. Those talks apparently now have borne fruit. While no size was available on the units, brokers are saying they are priced at $100m each, with financing from the Export-Import Bank of China a key component.
The earlier report said NITC would not order vessels directly, but get a Chinese owner to do so and then charter the ships long term with purchase options. It was not clear from broker sources how this issue would develop.