Finance and InsuranceMiddle EastTankers

Bahri secures financing for VLCC spree

The National Shipping Company of Saudi Arabia (Bahri) has signed a RYL700m ($186.7m) loan to help pay for 80% of three VLCCs it has ordered in South Korea.

The loan, from Alinma Bank, would run for ten years.

Bahri has a total of 10 VLCCs on order at the moment.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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