Bahri announces receiving a new general cargo vessel (Bahri Yanbu)

Apr 28, 2014

The National Shipping Company of Saudi Arabia (Bahri) announces that it has received Monday 28/6/1435H corresponding to 28/4/2014G in South Korea a new vessel specialized in general cargo with a size of 26,000 DWT. The ship was named (Bahri Yanbu) and it was built by Hyundai MIPO in South Korea. This is the sixth vessel delivered from the six vessels that were contracted by the Company with this shipyard in 2011 for a total value of SAR 1,543 million. The financial impact of the delivered vessel on the Companys revenue will materialize during the second quarter of 2014G.

The delivery of the sixth vessel enables the Company to complete its strategic plan to expand in the general cargo sector through replacing the 4 aged RoRo vessels with 6 new vessels. The Company built six new vessels with specialized capability in carrying general and projects cargo and RoRo cargo. The vessels are equipped with heavy lift cranes with a ramp which can handle up to 250 tons, in addition to designated areas specialized for carrying containers. Despite that the deadweight of those vessels are less than the old vessels, those new vessels have better capacity utilization aspects and lower fuel consumption.

Bahri (formerly known as NSCSA), press release