Saudi’s Bahri says to buy two used VLCCs for $157 million
By: Reuters | Oct 27 2015 at 01:23 AM | Liner Shipping
DUBAI - National Shipping Co of Saudi Arabia (Bahri) said on Tuesday its board had approved the purchase of two used oil tankers from a subsidiary of South Korea’s Daewoo Shipbuilding and Marine Engineering Co for $157 million.
The company will take delivery of the two very large crude carriers (VLCCs) between Nov. 15 and Jan. 31, Bahri said in a bourse statement.
The financial impact of the deal will be seen in the first quarter of 2016, Bahri said without elaborating.