Search results for: National Shipping Company of Saudi Arabia

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  • 23 October 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) saw its net income rise to SAR 510.3 million (USD 136 million) in the third quarter of 2015 from SAR 84.8 million reported in the same period last year. The company’s gross profit reached SAR 611.2 million, a major increase when compared to the corresponding period from […]

  • 23 October 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) saw its net income rise to SAR 510.3 million (USD 136 million) in the third quarter of 2015 from SAR 84.8 million reported in the same period last year. The company’s gross profit reached SAR 611.2 million, a major increase when compared to the corresponding period from […]

  • 14 July 2015
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has more than doubled its second-quarter results recording SAR 342.48 (USD 91.2 million) in net profit, the company said in its business report for the first six months of the year ending with June 30. This is a considerable increase compared to SAR 130.4 million from the corresponding period […]

  • 15 August 2016
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has signed an agreement for a USD 133.2 million loan facility to finance the purchase of five chemical tankers, the company said in a stock exchange filing. Namely, the company’s subsidiary, National Chemical Carriers, is set to receive the funds from Saudi Arabia’s Arab Petroleum investments Corporation (APICORP) […]

  • 16 January 2017
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has reported that its net profit for the quarter ended December 31, 2016, plunged by 42 percent, compared to the same period a year earlier. Namely, the company’s net profit for the fourth quarter of 2016 stood at SAR 327.8 million (USD 87.4 million), down from SAR 566.4 million […]

  • 14 July 2015
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has more than doubled its second-quarter results recording SAR 342.48 (USD 91.2 million) in net profit, the company said in its business report for the first six months of the year ending with June 30. This is a considerable increase compared to SAR 130.4 million from the corresponding period […]

  • 10 April 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) reported SAR 399 million (USD 106.4m) net profit for the three months ended March 31, a 104.5% increase compared to the SAR 195 million net profit for the same period in 2014. Compared to SAR 124.3m net profit in the last quarter of 2014, Bahri improved its Q1 […]

  • 22 April 2016
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri Liner) has entered into a space charter agreement with Hamburg-based specialist for project and heavy lift liner services Rickmers-Linie. Under the terms of the deal, the companies would charter space from each other covering the ports on the US Atlantic and Gulf Coasts, as well as ports in Saudi Arabia, Egypt, Jordan, Kuwait, […]

  • 18 January 2016
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) reported a huge jump in its net profit for the quarter ending on December 31st, 2015. Bahri’s fourth quarter net profit amounts to SAR 566.88 million (USD 151 million), a major leap from last year’s SAR 123.42 million. The company’s current profit reached SAR 1.8 billion doubling last year’s SAR 533 million in net profit. […]

  • 10 March 2016
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of its first of five second-hand Medium Range tankers purchased recently for USD 166.5 million. The MR ship STI Lexington was delivered and ownership was transferred to the National Chemical Carriers, a subsidiary 80% owned by Bahri on Tuesday, 8 March 2016 and the ship name […]

  • 29 December 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) took delivery of one second-hand Very Large Crude Carrier (VLCC) purchased in October. The ship in question is Blue Pearl and has been renamed to Kidan. The ship was purchased within a two-ship contract inked on October 27, 2015. The second vessel, Blue Topaz, will be re-named to […]

  • 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 […]

  • 26 July 2016
    Business & Finance

    National Shipping Company of Saudi Arabia (Bahri) has seen a surge of 47.2 percent in its net profit for the second quarter of 2016, as the company’s net profit stood at SAR 504.1 million (USD 134.4 million), against SAR 342.4 million (USD 91.3 million) seen in the same period a year earlier. Bahri said that the […]

  • 22 September 2016
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has announced the enrollment of its vessels in the United States Coast Guard’s QUALSHIP 21 program. Less than 10% of the ships that call at US ports meet QUALSHIP 21 eligibility requirements. Valid for three years, the QUALSHIP 21 enrollment provides Bahri with benefits which include limited oversight […]

  • 15 January 2014

    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, have a length of 229 meters, with modern […]

  • 18 June 2015
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) and Saudi Electricity Company (SEC) have signed a Memorandum of Understanding (MoU) for a period of five years, appointing Bahri to transport all the equipment, tools, spare parts and products imported from outside by SEC. The MoU was signed by Engr. Ibrahim Al-Omar, CEO of Bahri and Engr. […]

  • 2 July 2015
    Business & Finance

     The National Shipping Company of Saudi Arabia (Bahri) has exercised option for construction of additional five Very Large Crude Carriers (VLCCs) at Korean shipbuilder Hyundai Samho Heavy Industries. The option was given in a contract signed with the yard on May 21st that purports construction of 5+5 VLCCs. The additional carriers are scheduled for delivery during 2017/2018. […]

  • 5 May 2016
    Business & Finance

    The National Shipping Company of Saudi Arabia (Bahri) has signed a loan facility with Alinma Bank worth 700 million riyal (USD 186.7 million). The loan will be used to finance acquisition of three Very Large Crude Carriers (VLCCs), Bahri said in a filing. As disclosed, the loan would cover 80 percent of the value of the ships […]

  • 27 June 2011

    The National Shipping Company of Saudi Arabia signed a murabaha financing agreement with the Saudi British Bank (SABB) and the National Commercial Bank for Saudi Riyals 822.6 millions(approx USD 219.3 million). The proceed will be utilized to finance 80% of the cost of constructing two (2) general cargo ships and 20% will be financed by […]

  • 2 July 2015
    Business & Finance

     The National Shipping Company of Saudi Arabia (Bahri) has exercised option for construction of additional five Very Large Crude Carriers (VLCCs) at Korean shipbuilder Hyundai Samho Heavy Industries. The option was given in a contract signed with the yard on May 21st that purports construction of 5+5 VLCCs. The additional carriers are scheduled for delivery during 2017/2018. […]

  • 20 June 2011

    The National Shipping Company of Saudi Arabia announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Wednesday, 15th June 2011 in Korea a new chemical tanker named NCC AMAL with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of Nine (9) vessels previously […]

  • 20 June 2011
    Business & Finance

      The National Shipping Company of Saudi Arabia announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Wednesday, 15th June 2011 in Korea a new chemical tanker named NCC AMAL with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of Nine (9) vessels […]