Marine Link
Monday, July 16, 2018

Bahri to Acquire 2 VLCCs

Maritime Activity Reports, Inc.

December 24, 2015

The board of National Shipping Company of Saudi Arabia (Bahri) has approved the purchase of two second-hand very large crude carriers (VLCCs) for $155 million, it said in a bourse statement on Thursday.

Bahri will take delivery of the carriers between Jan. 14, 2016 and Feb. 1, 2016, the statement said, adding the financial impact of the ships would appear in its first quarter of 2016 earnings.

The ships were purchased from Alpha and Beta VLCC LLC, a subsidiary of Tanker Investment Ltd, the statement added.

Bahri became the sole provider of VLCC oil shipping services to Saudi Aramco after it purchased the marine unit of the oil giant in a deal first announced in 2012 and completed last year.


Reporting by Hadeel Al Sayegh

Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News