Saudi Arabia buys 5 crude carriers

Saudi Arabia

RIYADH, July 2, 2015 – The National Shipping Company of Saudi Arabia has signed an agreement for the purchase of five very large crude carriers from Hyundai Heavy Industries.

The Saudi company, known as Bahri, said on Wednesday that it would go ahead with a five-tanker extension to a May contract for the building and supply of an initial five tankers from the South Korean company.

The first five tankers are slated for delivery in 2017, and the second five for 2017-2018.

Bahri operates as the sole shipper for national oil giant Saudi Aramco. The new tankers, each with a capacity of 300,000 deadweight tonnes, will replace vessels in its fleet.

The company said the contract’s value would be disclosed at a later date.

For more news and features on Saudi Arabia, click here.

Read our latest insights on:

• Saudi Arabia

Previous

Green light for Shell deepwater project

Next

Iranian oil tankers chart Western course