Algerian-Japanese JV secures oil tanker loan

Eric Watkins
Senior Correspondent

LOS ANGELES, July 23 -- A joint venture of Algeria's state-owned Sonatrach and Kawasaki Shipbuilding Corp. plan to build and operate a $96 million crude carrier, which will be financed by Japan's Mizuho Corporate Bank.

The ship, scheduled for delivery this October, will be built in China by a JV of Kawasaki Shipbuilding and China's Cosco Group.

Contact Eric Watkins at [email protected].