Bid & Tender
Bahri Approves Purchase of Two Used VLCCs for $157mn

Date : Oct 29, 2015

National Shipping Co of Saudi Arabia (Bahri) said on Tuesday its board had approved the purchase of two used oil tankers from a subsidiary of South Korea's Daewoo Shipbuilding and Marine Engineering Co for $157 million.

 

The company will take delivery of the two very large crude carriers (VLCCs) between November 15 and January 31, said Bahri.

 

The financial impact of the deal will be seen in the first quarter of 2016, Bahri said without elaborating.