Saudi Arabia’s tanker owner Bahri has dismissed reports that one of its very large crude carriers (VLCCs) was breaching U.S. sanctions on Venezuela. The company reports that the cargo, they’re accused of, was contracted on January 9, 2019, well before the U.S. sanctions were imposed against Venezuela on January 28, 2019. The company’s 303,000 dwt oil tanker Abqaiq is on its way from the Red Sea to pick up a cargo from the Port of Jose Terminal in Venezuela for one of its Indian customers.
The National Shipping Company of Saudi Arabia announced that it has received a new Very Large Crude Carrier. The ship was christened ‘Lawhah’, at a naming ceremony at the South Korean Hyundai Samho Heavy Industries Mokpo shipyard in South Jeolla Province, on Thursday 1st of February 2018.
This is part of an agreement signed by Bahri in 2017 with Hyundai Mipo Dockyard. The credit facility will be used to finance 80% of the agreement, which was concluded on 27 August 2017. Bahri has also provided all the necessary guarantees for obtaining the loan, including a pledge of the four carriers upon delivery.
Saudi Aramco and its partners, Lamprell Plc, Bahri, and Hyundai Heavy Industries, officially launched a shipyard joint venture to be one of the largest full-service maritime facilities in 2022. The International Maritime Industries localizes essential links for Saudi Aramco’s supply chain related to offshore drilling and shipping activities.
Bahri Ship Management, one of the six business units within Bahri, announced that it has become one of the first shipping companies to comply with the submission of EU MRV plans for the full fleet, ahead of the deadline.
On Friday 25 August, the National Shipping Company of Saudi Arabia announced that its subsidiary, Bahri Dry Bulk Company, signed contracts with Hyundai Heavy Industries to build four environmentally friendly bulk carriers.
Bahri has rolled out a series of initiatives aimed at harnessing the power of “Data Innovation” to enhance productivity, unlock opportunities for growth and transform existing operations model in the shipping industry.
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