Bahri subsidiary inks deal to buy five new tankers

26/02/2016 Argaam

The National Shipping Company of Saudi Arabia (Bahri) said that its 80 percent-owned subsidiary, National Chemical Carriers, signed on Wednesday a memorandum of agreement to buy five second-hand medium range (MR) ships from South Korea’s Scorpio Tankers Inc. for $166.5 million.

 

The medium-sized tankers will be delivered between February 1 and June 30, 2016, the oil shipper added in a statement to Tadawul.

 

Bahri said that it expects the financial impact from the deal to reflect on results in Q2-2016 and Q3-2016.

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