Bahri Takes Delivery of Dry Bulk Vessel (Saudi Arabia)

The National Shipping Company of Saudi Arabia’s (Bahri)  subsidiary Bahri Dry Bulk (owned 60% by Bahri and 40% by Arasco) received a dry bulk vessel named Bahri Bulk at a ceremony held in Japan on Monday, January 27th.

This is the third vessel delivered from the five vessels that were contracted in 2012. The financial impact of the delivered vessel will materialize during the first quarter of 2014.

Bahri had announced that Bahri Dry Bulk signed contract to build 5 dry bulk ships with one of the leading ship yards in Japan. These vessels have a capacity of 82,000 dwt and length of 229 meters, consume less fuel and ecofriendly. The Company started its operation through chartering 5 vessels to Arasco which will now be replaced by the delivered vessels.

There are two vessels remaining under construction which are expected to be delivered in the first half of 2014G.

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Bahri, January 27, 2014