Saudi Arabia’s Bahri sells vessel in fleet replacement programme

25 March 2013 02:53  [Source: ICIS news]

SINGAPORE (ICIS)--The National Shipping Company of Saudi Arabia (Bahri) has announced over the weekend the sale of its general cargo vessel Saudi Diriyah as part of its fleet replacement programme.

The vessel, sold for Saudi riyal (SR) 30.3m ($8.08m) will be scrapped. The profit earned from the sale was SR19.5m, according to a statement from the company.

Bahri had previously signed new building contracts to acquire six general cargo vessels, the statement said without providing further details.

Two other ships are expected to be sold pending the delivery of the new vessels.

In January, Bahri announced the sale of the Saudi Abha, the first of its general cargo ships, the statement added.

($1 = SR3.75)

By: Muhamad Fadhil
+65 6780 4356

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