China to begin delivering supertankers to Iran in May
cnbc / cnbc
13-Apr-2012

BEIJING - Chinese shipyards are expected to deliver the first of 12 supertankers to Iranian oil shipping operator NITC in May, two months ahead of a European ban that would make it difficult for most of the world's fleet to carry the OPEC member's oil.

Another seven very large crude carriers (VLCCs) are scheduled for delivery by the end of this year from two Chinese shipyards, and the remaining four are expected to be commissioned by the end of 2013 as part of a total contract worth $1.2 billion, industry executives told Reuters.

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