Bahri inks Deal to Acquire Nine Tanker Vessels

October 17, 2024

Basil Abulhamayel, Chief Financial Officer at Bahri and Jameel AlHamdan, Chief Corporate Banking Group at Alinma Bank, signed the agreement on behalf of their respective organizations. Senior executives from both sides were present at the signing ceremony. Image courtesy Bahri

Bahri, the National Shipping Company of Saudi Arabia signed a Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernization program.

Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth $756 million to partially finance the purchase of nine Very large Crude Carriers (VLCCs).

Shipbuilding • Tankers • Finance