Bahri takes delivery of (Bahri Bulk)

27/01/2014 Tadawul

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk (owned 60% by Bahri and 40% by Arasco) took delivery on Monday 26/3/1435H corresponding to 27/01/2014G in Japan of the dry bulk vessel named Bahri Bulk. This is the third vessel delivered from the five vessels that were contracted in 2012G. The financial impact of the delivered vessel will materialize during the first quarter of 2014G.

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

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