Bakri’s latest buy takes its S&P spend past $50m this year

Bakri’s latest buy takes its S&P spend past $50m this year

Jeddah headquartered Bakri Navigation Company continues to be hungry for more tonnage.

Brokers report that the Arab outfit has purchased the 98,800 dwt Astro Antares, a tanker built in 1996, for $12.2m.

The vessel is listed under the management of Maran Tankers in Greece.

This is not the first time the Saudi Arabian player is in the secondhand market this year. Sources say the company has bought a couple more elderly suezmaxes over the last two months spending close to $50m in the secondhand market.

The diverse player is operating tankers in most sizes.

Bakri International Energy Company is the parent company of Bakri Navigation.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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