Bahri's subsidiary receives fourth of 5 MR ships

09/05/2016 Argaam

National Chemical Carriers (NCC), an 80 percent owned subsidiary of The National Shipping Company of Saudi Arabia (Bahri), has received the fourth of five medium range (MR) ships it had agreed to buy from South Korea’s Scorpio Tankers Inc. for $166.5 million.

 

Ownership of the STI Olivia was transferred to NCC on May 9 and the ship was renamed NCC Ghazal, the company said in a statement to Tadawul.

 

The financial impact of the delivery will be reflected in the second quarter of this year.  

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