• 2014 August 24 12:57

  One of the VLCCs in Vela fleet was transferred to Bahri's ownership

  

  Subsequent to The National Shipping Company of Saudi Arabia (Bahri) announcement on 21 July 2014 relating to merging the Vela fleet and operations with Bahri, Bahri announces that (Antares Star), one of the VLCCs in Vela fleet, was transferred to Bahri's ownership on Thursday 21 August 2014 and her name was changed to (Niban).

  The remaining Vela vessels shall be transferred to Bahri on a staggered basis according to an agreed upon vessel delivery schedule with Vela and is expected to be completed before the end of 2014. The financial impact is expected during the third quarter of 2014, the company said in its press release.

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