"BRODOSPLIT" SIGNS AGREEMENT ON BUILDING OF THREE OIL TANKERS

SPLIT, May 16 (Hina) - " Brodosplit", shipyard from the southern Croatian city of Split, concluded an agreement with the Wallis Trading company registered in Liberia on the building of three oil tankers of the capacity of 40,000 to 45,000 tonnes. The agreement worth US$33 million was signed in Paris last week, the Brodosplit management reported Tuesday. The building of the three oil tankers had already been arranged with an United States shipyard from Newport, however the US shipyard in the meantime turned exclusively to the military industry, a bid for new shipbuilders was announced and the Liberian company picked Brodosplit from a wide scope of tenders. Given that the US shipyard already supplied the major part of equipment for the building of the three tankers, the equipment will be sent to Split. Brodosplit will receive a half of the agreed amount during the building of the ships, while the rest will be paid after the delivery of the three tankers. The agreement also includes a bonus worth US$0.5 million per ship for the delivery by or before the deadline. The beginning of the building of the first tanker is planned for December 2000, and it should be delivers by march 2002. The other two tankers are scheduled to be delivered in July and December of the same year. (hina) it jn