Bahri, S-Oil Corp seal 10-year affreightment contract

09/04/2015 Argaam
The National Shipping Company of Saudi Arabia (Bahri) said it signed a 10-year affreightment deal with South Korea’s S-Oil Corporation on Wednesday. 
 

Under the​agreement, Bahri will transport crude oil on VLCCs from the Arabian Gulf and Red Sea to Onsan, Korea. Freight services are expected to start in third quarter, Bahri said in a statement to the Saudi bourse.

 

The company sees a financial impact of at least SAR 250 million in annual revenues, which will be reflected ​in third quarter results. 

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