BAHRI ANNOUNCES RECEIVING A NEW GENERAL CARGO VESSEL (BAHRI YANBU)

4236The National Shipping Company of Saudi Arabia (Bahri) announces that it has received today, 28th April 2014 a new vessel specialized in general cargo with a size of 26,000 DWT in South Korea. The ship was named “Bahri Yanbu” and it was built by Hyundai MIPO in South Korea. This is the sixth vessel and the last ship delivered, which were contracted in 2011 for a total value of SAR 1,543 million.

The financial impact of the delivered vessel on the Company’s revenue will materialize during the second quarter of 2014G.

This completes the strategic plan of the Company regarding general cargo sector by replacing the four aged RoRo vessels with six new vessels. These new vessels are specialized in carrying general, projects and RoRo cargoes. The vessels are equipped with heavy lift cranes with a ramp which can handle up to 250 MT, in addition to designated areas specialized for carrying containers. Despite that the deadweight of these vessels are less than the old vessels, the new vessels have better capacity utilization aspects and lower fuel consumption.

Bahri is an internationally renowned company with a fleet size of 52 ships which include 17 VLCCs, 24 Chemical tankers, 6 General Cargo ships and 5 Dry-bulk vessels. The company also provides ship management and freight forwarding services in addition to maintaining a container service yard facility in Jeddah.




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