NAVANTIA signs an agreement to build 4 oil tankers

4 vessels mean 3 million hours of workload for Navantia and the ancillary industry, that will be shared between Cadiz and Ferrol shipyards
The reached agreement stablish that vessels will be built at international prices and set the basis of the vessel specifications, periods and landmarks
The contract are expected to sign next month

Navantia has signed with the ship owner Indimar Transportes Marítimos LDA an agreement that stablish the basis for the contract to build 4 oil tankers Suezmax-type, extendable to other two, at international prices for that kind of vessels.
The contract will be signed next month, and the beginning of the vessels construction will be carried out on the last three months of the year. The time-frame for construction is 21 months.
The stipulated basis refer to the vessel specifications, the periods of production of each one and the payments landmarks. Last ninth of March a letter of intent was signed expressing the intention of both parts to reach an agreement for the construction of these vessels, as much as in its technical specifications as in the price. Once they reached the agreement now they sign the basis for the next signature of the contract next month.
The construction of each vessel will mean around 725.000 hours of workload for the shipyards of Navantia in Cadiz and Ferrol, and for the auxiliaries companies.
(Source: www.navantia.es)