Saudi Arabia’s Bahri receives new cargo vessel from Hyundai MIPO

24 July 2013 04:26  [Source: ICIS news]

SINGAPORE (ICIS)--The National Shipping Comrpnay of Saudi Arabia (Bahri) received 26,000-deadweight tonne (DWT) cargo vessel built by Hyundai MIPO in South Korea, the Middle Eastern shipping firm said late on Tuesday.

“This is the third vessel delivered from the six vessels that were contracted by the company [Bahri] with this shipyard in 2011 for a total value of [Saudi riyal] SR1.54bn ($411m),” Bahri said in a disclosure to the Saudi Stock Exchange.

The company has three more general cargo vessels being built by Hyundai MIPO in South Korea, with delivery expected within this year to the first half of 2014, Bahri said.

($1 = SR3.75)

By: Pearl Bantillo
+65 6780 4359

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