The National Shipping Company of Saudi Arabia (Bahri) signed with Hyundai Samho Heavy Industries an agreement to build five very large crude carriers, with an option for another five.
The signing ceremony was attended by Eng. Ibrahim Abdulrahman Al-Omar, Bahri’s Chief Executive Officer and Mr. S.H. Ka, Hyundai’s Member of the Board and Chief Operating Officer.
Eng. Al-Omar stated that this agreement is in line with Bahri‘s plans to renew and expand its fleet to meet the requirements of both local and international markets.The first five VLCCs are due for delivery during 2017. These carriers are designed to the latest international technical specifications and are fitted with environment friendly and fuel efficient engines.
Eng. Al-Omar also mentioned that this order will rank Bahri as number one VLCC owner globally and will ensure that the company remains competitive in the shipping market, supports its efforts to expand its customer base and ensures reliable and efficient services.
Bahri is the exclusive provider of VLCC transport services for Saudi Aramco under a long-term contract. The company has recently signed a 10-year agreement with Korea’s S-Oil Corporation. Under this agreement, it will transport crude oil cargoes on VLCCs from the Arabian Gulf and the Red Sea to Ulsan in South Korea.