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  • 2020 August 24 18:21

    Bahri orders 10 chemical tankers from Hyundai MIPO Dockyard

     

    Bahri orders 10 chemical tankers from Hyundai MIPO Dockyard
    Bahri signs contracts Hyundai MIPO Dockyard Co., Ltd. for construction of ten tankers worth $410 million
    The National Shipping Company of Saudi Arabia (Bahri) announced that the National Chemical Carriers Co., Ltd. (subsidiary) has signed a contract with the Hyundai MIPO Dockyard Co., Ltd. for the purpose of building 10 chemical tankers.
    Bahri said the shipbuilding contract value is USD 410 million.
    Contract details are as follows:
    - Building 10 chemical tankers with a capacity of 49,999 DWT each.
    - The cost of each tanker is estimated at USD 41 million.
    - All tankers are expected to be delivered in batches, starting from the first quarter of 2022 until the first quarter of 2023.
    - Vessels type is “IMO type 2” a fuel-efficient, which can be both Chemicals and Clean Petroleum Product (CPP) carriers.
    Contract duration: 2 years and 7 months.
    The company is currently working on determining the expected financial impact, which will be reflected upon taking delivery and operating the 10 tankers.
    The contract will be funded by the company's cash flow in addition to bank financing.

    The National Shipping Company of Saudi Arabia (Bahri) announced that the National Chemical Carriers Co., Ltd. (subsidiary) has signed a contract with the Hyundai MIPO Dockyard Co., Ltd. for the purpose of building 10 chemical tankers.

    Bahri said the shipbuilding contract value is USD 410 million.

    Contract details are as follows:- Building 10 chemical tankers with a capacity of 49,999 DWT each.- The cost of each tanker is estimated at USD 41 million.- All tankers are expected to be delivered in batches, starting from the first quarter of 2022 until the first quarter of 2023.- Vessels type is “IMO type 2” a fuel-efficient, which can be both Chemicals and Clean Petroleum Product (CPP) carriers.Contract duration: 2 years and 7 months.

    The company is currently working on determining the expected financial impact, which will be reflected upon taking delivery and operating the 10 tankers.

    The contract will be funded by the company's cash flow in addition to bank financing.

     


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