Bahri announces that it received a Dry Bulk Vessel (Bahri Wafi)

Feb 26, 2014

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk (owned 60% by Bahri and 40% by Arasco) received on Wednesday 26/4/1435H corresponding to 26/02/2014G in Japan a dry bulk vessel named Bahri Wafi. This is the fourth 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 is one vessels remaining under construction which is expected to be delivered in the first half of 2014G.

Bahri (formerly known as NSCSA), press release