Bahri Takes Delivery of Chemical Tanker (NCC REEM)

The National Shipping Company of Saudi Arabia (BAHRI) announces that its 80% owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received on Friday, 28th September 2012 in Korea a new chemical tanker named NCC REEM with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of Nine (9) vessels previously contracted by NCC from this yard during 2006 - 2007 for a total value of approximately (SAR 1,722 Millions). 

The financial impact of the delivered tanker on the company revenue will appear starting from the delivery date. 

NCC has additional Two (2) vessels under construction at SHINAsb in South Korea for a value of (SAR 390 Millions) with deliveries expected during 2012, in addition to one large chemical tanker of 75,000 DWT, to be constructed at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) of South Korea at the price of approximately (SAR 247 Millions) for delivery during 2013.