Saudi Arabia’s Bahri, via business unit Bahri Chemicals, has sealed a long-term time charter deal with Dubai owner United Arab Chemical Carriers (UACC) for nine medium range chemical tankers.
The vessels will join the Bahri Chemicals fleet from April 2021 onward, taking the company’s operating fleet of MR chemical tankers to 31.
Abdullah Aldubaikhi, CEO of Bahri, commented: “We are delighted to announce the successful addition of UACC’s nine IMO2 MR chemical tankers to our fleet under a long-term time charter agreement. This transaction is a testament to the resilience of Bahri Chemicals’ business and operations and represents the normal progression of our long-term strategy implementation. The addition of the vessels further underscores that we are well on track to achieve our fleet expansion plans and is closely tied to our ongoing newbuilding program.
“The UACC vessels are known to us as we managed them in the past, and as sister ships with the same specifications and high standards as our chemical fleet, they will strengthen our capabilities to offer premium services to a wide range of clients worldwide. With a significantly larger fleet, we are better equipped to capture new and emerging opportunities in the market, delivering superior value to Bahri’s shareholders.”
Bahri Chemicals currently owns 23 chemical tankers, 22 MRs and one LR, and has a further 10 MRs under construction at Hyundai Mipo.