Bahri Secures Loan for Five VLCCs
National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers. The facility lasts for a period of 10 years and six months, and includes a maximum two-year grace period, the firm known as Bahri said in the bourse statement. A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards.
Iran Seeks $2.5B to Modernize its Oil Tankers
Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday. Iran emerged from years of economic isolation after crippling sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear ambitions.
Fincantieri Bags 5 Cruise Ships Order from Carnival
Following on a March 2015 agreement and a memorandum of agreement last December, Fincantieri, a leader in cruise ship design and construction, and Carnival Corporation & plc, the world’s largest cruise company, have finalized contracts for the construction of five next-generation passenger ships. The contracts finalized today envisage one further unit compared to the memorandum of agreement of December and mark the most important goal reached by the two groups in the last years…
Holland America Line Celebrates Official Handover of 'Koningsdam'
Holland America Line celebrated the delivery of ms Koningsdam with an official Handover Ceremony, luncheon and shipyard workers party aboard the ship Saturday, April 2, 2016, at the Fincantieri shipyard in Marghera, Italy. In attendance at the ceremony was Italy’s Minister of Infrastructures and Transport Graziano Delrio, who expressed his appreciation for the long-standing relationship between Carnival Corporation, including Holland America Line, and Fincantieri.
Godrej Conferred AILBIEA's Lifetime achievement Award
Nadir B. Godrej, MD of Godrej Industries Ltd., was conferred the Lifetime Achievement Award by the All India Liquid Bulk Importers and Exporters Association (AILBIEA) during its 15th Anniversary celebration held on 1st April 2016 in Mumbai. AILBIEA, whose members are responsible for most of the liquid bulk cargo that pass through various ports of India and which has hit a whopping volume of over 200 Million tons this year…