Riyadh - As part of the Company’s ambitious fleet modernization plan, Bahri announces that it has finalized a purchase agreement on 19 August 2024 with Capital Maritime and Trading Corporation to acquire nine Very Large Crude Carriers (VLCCs) for an approximate amount of SAR 3.75 billion (USD 1 billion).
The transaction will significantly advance Bahri’s fleet modernization plans, reinforcing its position among leading VLCC owners globally. The main purpose of this acquisition is to enable Bahri streamlining the process of phasing out older vessels in the fleet going forward.
Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.
You cannot copy content of this page
