Bahri Takes Over Fourth Newbuild from Hyundai MIPO

The National Shipping Company of Saudi Arabia (Bahri) announced that it has received on Tuesday, October 29 a new vessel specialized in general cargo with a size of 26,000 DWT. The ship was named Bahri Jazan and it was built by Hyundai MIPO in South Korea.

This is the fourth 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. The financial impact of the delivered vessel on the Company’s revenue will materialize during the fourth quarter of 2013G.

Bahri has two general cargo vessels remaining under construction at Hyundai MIPO in South Korea with delivery expected to take place during the first half of 2014.

Bahri, October 29, 2013

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