Independent journal on economy and transport policy
20:26 GMT+1
This page has been automatically translated by Original news
Bahri and APICORP institute a bottom in order to buy 15 VLCC with an investment of 1,5 billion dollars
the Saudi shipowning company will become the main world-wide operator of the market of the Very Large Cruide Carrier
July 18, 2016
The shipowning society Saudi National Shipping Company of Saudi Arabia (Bahri) and the Arab Petroleum Investments Corporation (APICORP), the organization financial institution of the OAPEC (Organisation of Arab Petroleum Exporting Countries) that it has the scope to support the development of the field of the energy of the exporting Arabic Countries of oil, has yesterday signed to Riyadh an agreement in order to institute a bottom with the scope to buy about 15 Very Large Cruide Carrier (VLCC), acquisition that will happen in three phases with a total investment until 1,5 billion dollars.
The understanding - they have emphasized the two partner - will make of Bahri the main world-wide operator of the market of ships VLCC. "With a current fleet of 36 VLCC and others 10 under construction that they will be taken in delivery in 2017 and 2018 - have confirmed the managing director of the Saudi company, Ibrahim Al Omar - the 15 oil tankers of which the acquisition with this planing bottom is programmed Bahri to become the greatest operator than VLCC of the world".
APICORP will be the main investor and the manager of the bottom, that ten-year-old will be closed and of the duration, and will cover 85% of the investment, while Bahri, that it will finance having remained 15% of the investment, will have the business management and technical of the fleet.
The president of the Bahri, Abdulrahman Mohammed Al Mofadhi, has evidenced that "this bottom will not only reduce the dependency of Saudi Arabia from marine carriers foreign countries for the crude oil transport, but its entrances will be plowed back in the local economy".
The bottom will be according to bottom of the APRICORP in the field of the shipping. In February 2013, in fact, the financial institution has activated the closed bottom of the duration five-year-old Petroleum Shipping Fund (APSF) for investments in the market of the charterings of product tanker.
- 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 shipowning society Saudi National Shipping Company of Saudi Arabia (Bahri) and the Arab Petroleum Investments Corporation (APICORP), the organization financial institution of the OAPEC (Organisation of Arab Petroleum Exporting Countries) that it has the scope to support the development of the field of the energy of the exporting Arabic Countries of oil, has yesterday signed to Riyadh an agreement in order to institute a bottom with the scope to buy about 15 Very Large Cruide Carrier (VLCC), acquisition that will happen in three phases with a total investment until 1,5 billion dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
