Bahri Adds Another VLCC

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Image Courtesy: Bahri

Bahri announced that it has received on Tuesday 10 April 2018 G a new VLCC that was named (Khurais).

The newly received VLCC is one of the 5 VLCCs that were financed by Standard Chartered Bank, Arab National Bank, National Bank of Abu Dhabi and Bank Albilad according to Bahri announcement at Tadawul on 30 November 2016.

The commercial operation of (Khurais) is expected to be in April 2018. The financial impact of the new VLCC is expected to be in the second quarter of 2018.

“This latest addition to Bahri’s fleet of VLCCs consolidates our standing as a global leader in the crude oil transportation industry and gives us a greater competitive edge. We will leverage the resulting improvements in efficiency to cater for the steadily increasing demand for crude oil transportation and bring added value to our clients and stakeholders,” said Eng. Abdullah Aldubaikhi, CEO of Bahri.

“The addition of the new vessel further enhances our capabilities and underlines our commitment to objectives of the Saudi Vision 2030. We are proud to play a key role in maintaining the Kingdom’s pre-eminent position as a key strategic regional hub and logistics gateway across three continents,” he added.

‘Khurais’ joins the three vessels received earlier this year, named ‘Kassab,’ ‘Lawhah,’ and ‘Qamran,’ in further strengthening Bahri’s position as the world’s biggest owner and operator of VLCCs.

Sea News, April 11