The National Shipping Company of Saudi Arabia (Bahri) recently took delivery of a new 26,000 DWT general cargo vessel.
The ship, named Bahri Jeddah, was built by Hyundai MIPO in South Korea. This is the fifth 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.
Bahri has one general cargo vessels remaining under construction at Hyundai MIPO in South Korea with delivery expected to take place during the first half of 2014.
The financial impact of the delivered vessel on the company’s revenue will materialize during the first quarter of 2014G.
Press Release, January 10, 2014