27 OCT 2015

The National Shipping Company of Saudi Arabia (Bahri) announces that its Board has approved in its meeting on Monday 26th October 2015 to buy two (2) Second hand VLCCs (Blue Topaz & Blue Pearl) built in 2010 at Daewoo Shipbuilding Yard in South Koria from DK Maritime (subsidiary of Daewoo Shipbuilding & Marine Engineering Co., Ltd) at a total Purchase Price of One Hundred and Fifty Seven million dollars (US$157,000,000). The 2 VLCCs will be delivered to Bahri between15th November 2015 and 31st January 2016. The financial implication of these 2 VLCCs is expected during the 1st quarter 2016.