Search results for: Bahri

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  • 7 February 2017
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Amjad, a 300,000 dwt very large crude carrier (VLCC), from South Korean shipbuilder Hyundai Heavy Industries (HHI).  Amjad was handed over to Bahri at HHI’s Mokpo shipyard in South Jeolla Province, South Korea, on February 7, 2017. With a gross tonnage of 160,000 […]

  • 16 April 2012
    Business & Finance

    The National Shipping Company of Saudi Arabia (NSCSA), the leading provider of Marine transportation services, is marking its evolution into a global force by launching its new brand, Bahri, at a prestigious event at the Ritz-Carlton, Riyadh, Saudi Arabia on April 15. From the NSCSA’s humble beginning in 1979 as a national carrier, the Bahri […]

  • 7 April 2016
    Business & Finance

    The third out of five second-hand Medium Range tankers bought by the National Shipping Company of Saudi Arabia (Bahri) in February has joined the company’s fleet. MR vessel STI Chelsea was delivered and ownership was transferred to Bahri’s subsidiary National Chemical Carriers (NCC) on April 6, 2016. The tanker was subsequently renamed to NCC Masa. Bahri said that the financial impact of this […]

  • 23 June 2014
    Business & Finance

    The National Shipping Co. of Saudi Arabia (Bahri) informed that it had signed a Murabaha financing agreement on Sunday, June  22 with JPMorgan Chase Bank, N.A. (Riyadh Branch), Samba Financial Group and the Saudi British Bank (SABB) for SAR 3.18 billion ($848 million) to finance the cash consideration of Vela merger and the costs associated […]

  • 22 April 2013
    Business & Finance

    The National Shipping Comp of Saudi Arabia (Bahri) announced lately the availability of a new mobile applications for iPhone and iPad users as well as any smart phone using Android that aimed to provide customers with direct access to all of the company’s services while on the move. The applications will allow customers to track […]

  • 5 November 2012
    Business & Finance

    The National Shipping Company of Saudi Arabia (“Bahri”) announces today that Bahri, the Saudi Arabian Oil Company (“Saudi Aramco”) and Vela International Marine Limited (“Vela”), a wholly owned subsidiary of Saudi Aramco, have executed definitive and legally binding agreements (the “Transaction Agreements”) to merge the fleet and operations of Vela and Bahri (the “Transaction”). Execution […]

  • 8 January 2020
    Business & Finance

    Bahri Jeddah will call regularly at Kamarajar Port and on an inducement basis at Chennai International Terminal.

  • 6 October 2017
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) and the Dutch firm Koninklijke Bunge B.V. (Bunge) have launched its joint venture BahriBunge Dry Bulk Ltd. with the inauguration of the JV’s offices in Dubai, UAE. The move comes on the back of a joint venture agreement signed between Bunge and Bahri Dry Bulk Company (BDB), a subsidiary of Bahri, […]

  • 17 June 2014
    Business & Finance

    A merger of two shipping giants worth $1.3 billion, the biggest in the Saudi Arabian history, has been sealed, Saleh N. Jasser, Bahri’s CEO said at a press conference in Saudi Arabia‘s capital, Riyadh, Arab News reports. Namely, the National Shipping Company of Saudi Arabia or NSCSA (Bahri) and Vela, a subsidiary of the world’s largest […]

  • 27 January 2014

    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 […]

  • 15 January 2014
    Business & Finance

    Bahri Dry Bulk, a subsidiary of the National Shipping Company of Saudi Arabia (Bahri), today received a dry bulk vessel named Bahri Grain. This is the second of five vessels that were contracted in 2012 with the Oshima Shipbuilding (Japan). These Kamsarmax vessels are of 82,000 DWT capacity, have a length of 229 meters and […]

  • 7 September 2017
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has taken delivery of the very large crude carrier (VLCC) Rimthan, built by Hyundai Samho Heavy Industries (HSHI) in South Korea. The 300,000 dwt carrier joins the company’s 40-strong VLCC fleet. Built to the latest environmental and fuel-efficient technical specifications, the ship was handed over to Bahri during a delivery […]

  • 27 October 2014
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) recorded a SAR 84.8 million (USD 22.4 million) net profit in the third quarter of 2014, 49.9 pct lower than in the same period last year, Bahri’s interim financial results ending on 30th of September show. Bahri’s net profit stands currently at SAR 410.4 million (approximately USD […]

  • 21 February 2017
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has opened a new office in Mumbai to strengthen its presence in the Indian maritime industry. “The opening of our new office in Mumbai is a strategic, long-term investment by Bahri and underscores the company’s strong commitment towards the Indian market as we look to expand into other verticals […]

  • 1 February 2018
    Business & Finance

    Bahri has taken delivery of Lawhah, the second VLCC fleet addition since the beginning of this year. 

  • 1 March 2018
    Business & Finance

    Bahri reports a net income of SAR 800.3 million in 2017, down by 53.4% from the previous year’s SAR 1.7 billion.

  • 12 June 2017
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Maharah, a 300,000 dwt very large crude carrier (VLCC), from South Korean shipbuilder Hyundai Heavy Industries (HHI).  The newbuilding was handed over to Bahri during a delivery ceremony held at HHI Mokpo shipyard in South Jeolla Province, South Korea, on June 12. With […]

  • 11 August 2014
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) said that another VLCC vessel from the Vela fleet, the Capricorn Star, was transferred to Bahri’s ownership on Thursday 7 August 2014. The VLCC has been renamed to Lulu. This is the second vessel taken over by Bahri, Matar Star, renamed to Nisalah, being the first one at the […]

  • 24 May 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) inked an agreement with Hyundai Samho Heavy Industries (HSHI) on May 21, 2015 to build 5 very large crude carriers (VLCCs) plus 5 more optional VLCCs. Eng. Ibrahim Abdulrahman Al-Omar, Bahri’s Chief Executive Officer said that this agreement is in line with Bahri’s plans to renew and expand its fleet […]

  • 31 January 2020
    Business & Finance

    Saudi Arabian company Bahri wrapped up Q4 2019 with a 172.48 percent net profit surge.

  • 5 February 2013

    The National Shipping Company of Saudi Arabia (Bahri) announced that it received its first newly built Roll-on/Roll-off Container (RoCon) vessel named Bahri Abha from Hyundai MIPO on 5th of February 2013 in South Korea. This is the first of six sophisticated vessels that Bahri contracted Hyundai MIPO to build it in order to replace the existing […]

  • 10 January 2018
    Business & Finance

    Bahri Dry Bulk has secured a funding of USD 96 million from Bank Albilad to finance the purchase of four new bulkers.