Bahri Financed for Two General Cargo Ships

Press Release
Wednesday, July 04, 2012

The National Shipping Company of Saudi Arabia (Bahri) will sign a financing agreement with Public Investment Fund (PIF) for 2 newbuildings

Bahri is to sign a 'Murabaha Agreement' with Public Investment Fund (PIF).

The cash will be used to finance part of the total construction cost of building two General Cargo vessels at Hyundai Mipo Dockyard in South Korea.

The value of the financing contract is equivalent to Saudi Riyals 450,000,000 (Four Hundred and Fifty million). The repayment will be made in equal quarterly installments over 10 years from delivery of vessels. The Contract will be signed by Mr. Abdullah Ibrahim Al-Eiyadhi, Acting General Secretary of PIF and Engr. Saleh Nasser Al-Jasser, Bahri CEO.

Engr. Al-Jasser indicated that these two vessels are part of the contract signed in March 2011 for the construction of six General Cargo vessels which will be received starting from early 2013 onward.


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed

Keel Laying for Russia's Second Nuclear Icebreaker

Today the Baltic Shipyard in St Petersburg (part of United Shipbuilding Corporation) laid the keel of Ural, Project 22220’s second series-produced nuclear icebreaker.

Russia: 6th Yasen-Class Nuclear Sub

Russia's sixth Yasen-class nuclear submarine will be laid down at the Sevmash ship-building company in the city of Severodvinsk on July 29, reports RIA Novosti.

Finance

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

DP World Eyes Taiwan Port

Global marine container terminal operator DP World  will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC),

Middle East

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Libyan Deal to End Oil Ports Blockade Needs Signing

Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government

Antwerp Port Inks Iranian Collaboration

Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran.   Bandar

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0807 sec (12 req/sec)