Bahri subsidiary receives last of MR ships

26/05/2016 Argaam

National Chemical Carriers (NCC), an 80 percent owned subsidiary of The National Shipping Company of Saudi Arabia (Bahri), received the last of the five medium range (MR) ships it had agreed to buy from South Korea’s Scorpio Tankers Inc. under a $166.5 million deal.

 

Ownership of the STI Powai was transferred to NCC on May 26 and the ship has been renamed NCC Bader, the company said in a statement to Tadawul.

 

The financial impact of the delivery will be reflected in the second quarter of this year. 

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