First of Five Scorpio’s MR Tankers Joins Bahri’s Fleet

The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of its first of five second-hand Medium Range tankers purchased recently for USD 166.5 million.

The MR ship STI Lexington was delivered and ownership was transferred to the National Chemical Carriers, a subsidiary 80% owned by Bahri on Tuesday, 8 March 2016 and the ship name was changed to NCC Wafa.

Bahri said that the financial impact of this ship is expected during the second quarter of 2016.

The remaining product tankers are STI Chelsea, STI Mythos, STI Olivia and STI Powai.

The five vessels were built in 2014 at Hyundai Mipo Dockyard in South Korea for Scorpio Tankers Inc and are expected to complete their respective deliveries by 30th June 2016.

At the end of 2015, Bahri’s fleet consisted of seventy five vessels; from which 33 were VLCCs and 26 are chemical tankers.

World Maritime News Staff

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