Bahri subsidiary inks $120 mln deal with Hyundai Heavy Industries

27/08/2017 Argaam

Bahri Dry Bulk Co., which is 60 percent-owned by The National Shipping Company of Saudi Arabia (Bahri), has signed contracts worth $120 million on Aug. 25 with Hyundai Heavy Industries (HHI).

 

HHI will build four bulk carriers for Bahri Dry Bulk, to be delivered in H1 2020, Bahri said in a statement to Tadawul Sunday.

 

Financial impact of the contracts will appear after the vessels are delivered.

 

The deals are part of Bahri’s plans to expand its fleet to meet needs of the local and global markets.

 

The carriers will be designed with environmentally-friendly specifications, with a capacity of 80,000 metric tons each, the statement said.

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