The third out of five second-hand Medium Range tankers bought by the National Shipping Company of Saudi Arabia (Bahri) in February has joined the company’s fleet.

MR vessel STI Chelsea was delivered and ownership was transferred to Bahri’s subsidiary National Chemical Carriers (NCC) on April 6, 2016.

The tanker was subsequently renamed to NCC Masa.

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

Under the agreement signed on February 24, Bahri bought five second-hand tankers for a price of USD 166.5 million.

The first and the second tankers from the batch, STI Lexington and STI Mythos, joined Bahri’s fleet in March.

Two more product tankers, STI Olivia and STI Powai, are expected to be delivered to their new owner by the end of June 2016.

The vessels were built in 2014 at Hyundai Mipo Dockyard in South Korea for Scorpio Tankers Inc.