Bahri take delivery of dry bulk Bahri Arasco

01/12/2013 Argaam

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk (owned 60% by Bahri and 40% by Arasco) received on Friday 26/1/1435H corresponding to 29/11/2013G in Japan a dry bulk vessel named Bahri Arasco. This is the first vessel delivered from the five vessels that were contracted in 2012G. The financial impact of the delivered vessel will materialize during the fourth quarter of 2013G. 

Bahri had announced on 25/5/1433H corresponding to 17/4/2012G 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, consumes less fuel and ecofriendly. The Company started its operation through chartering 5 vessels and chartering them out to Arasco which will be replaced by the delivered vessels. 

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

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