Bahri Secures $133m Funding for Five Ships
National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers. The funding will be provided to National Chemical Carriers by Arab Petroleum Investments Corporation and BNP Paribas in the form of a murabaha facility for a 10-year period, it said in a bourse statement. A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards.
Biggest Cruise Ship to Enter Lerwick Harbor
The record for the biggest cruise ship into Lerwick Harbour will be broken on Today (Sunday) when Celebrity Silhouette enters the Shetland port on a 14-nights British Isles Cruise. On her maiden call at Lerwick, Celebrity Cruises’ 122,210 gross tonne vessel will beat the record set by the 115,055 gross tonne Azura on 30 June. Captain Calum Grains, Lerwick Port Authority’s Harbour Master and Deputy Chief Executive…
Port of Long Beach Cargo Dips
Container volume at the Port of Long Beach was down 7.7 percent in July compared to the same month in 2015, when harbor terminals handled a record amount of cargo. Dockworkers moved 637,091 twenty-foot-equivalent units (TEUs) last month. Imports totaled 325,608 containers, a 5.9 percent year-over-year decrease. Exports numbered 142,812 TEUs, a slight drop of 0.7 percent. Empties decreased to 168,671, 15.9 percent lower than July 2015, the Port’s strongest July on record.