Independent journal on economy and transport policy
08:15 GMT+1
This page has been automatically translated by Original news
Al via the fusion of the fleets of the Saudis Bahri and Vela International
The transaction has a value of about 1,3 billion dollars
October 22, 2012
The negotiations between the Saudi shipowning companies The National Shipping Company of Saudi Arabia (Bahri) and Sail International Marine Limited have been concluded with success (Saudi Aramco group) for the fusion of the respective fleets agreed in a memorandum of understanding undersigned at the beginning of the summer ( on 28 June 2012).
The agreement previews that Sail transfers to Bahri the property of its entire fleet that is constituted by 14 Raw oil tankers Very Large Carrier, from a VLCC for crude oil storage, from a Aframax oil tanker and four product tanker. The staff of edge of the Sail and a quota the earth staff of the company will pass to the Bahri.
The understanding previews moreover that Bahri relatively becomes exclusive supplier of Saudi Aramco to the services of marine transport with VLCC within a contract in the long term of the initial duration ten-year-old.
Bahri will pay 4,87 billion riyal altogether (1,3 billion dollars) to the Sail, of which 3,1 billion riyal cash and the quota remaining through the emission of beyond 78,7 million new it sets in action of the Bahri to the unit price of 22,25 riyals, for a quota pairs to 20% of the capital stock of the Bahri.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
The negotiations between the Saudi shipowning companies The National Shipping Company of Saudi Arabia (Bahri) and Sail International Marine Limited have been concluded with success (Saudi Aramco group) for the fusion of the respective fleets agreed in a memorandum of understanding undersigned at the beginning of the summer 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
