Although the advent of the Christmas period is having a slowing down effect on the newbuilding sector, a number of interesting tanker and bulker contracts have been reported. Relatively low prices still seem to attract owners and, in last week's most notable deal, Japanese shipping company Mitsui OSK Lines (MOL) placed a $380M order for five VLCCs with domestic shipyards. Three will be built at Mitsui Engineering & Shipbuilding while the remaining two will be constructed at NKK. Deliveries are slated for 2002 and early 2003.
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