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Polar Tankers Exercises $197 Million Option With Litton for Fourth Double Hull Tanker
(Transport News)
October 16, 2000
WOODLAND HILLS, Calif. - Oct. 13, 2000 - Litton Industries (NYSE:LIT) today announced that Polar Tankers Inc. of Long Beach, Calif., a subsidiary of Phillips Petroleum Co., has exercised an option with Litton's Avondale Industries Inc. subsidiary for a fourth double hull, crude oil carrier, valued at $197 million.
Under a contract awarded in 1997, Litton Avondale currently has three 125,000 DWT crude oil carriers ...... Read more on Transport News
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