Bahri extends MoU with Ajlan & Bros for 6 months

08/08/2023 Argaam
One of Bahri's VLCC tankers

One of Bahri's VLCC tankers

National Shipping Company of Saudi Arabia (Bahri) announced today, Aug. 8, renewing the non-binding memorandum of understanding (MoU) signed with Ajlan & Bros Holding Group for six more months as of its expiry date, the company said in a statement to Tadawul.

 

The MoU extension will take effect under the previously agreed terms and conditions, said that the company, adding that the expected date for completion is Dec. 31, 2023.

 

Bahri signed, on Dec. 12, 2022, the MoU with Ajlan & Bros to discuss ways of partnering to establish a new joint venture company that will specialize in owning and operating various models of vessels, according to Argaam's data.

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