Saudi Arabian tanker giant lands ten-year contract

Saudi Arabian tanker carrier Bahri more than doubled its net result in the first quarter of the year, and the has also landed a massive contract to transport crude oil on supertankers from the Arabian Gulf to South Korea.

by DANIEL LOGAN

Saudi Arabia's National Shipping Company of Saudi Arabia (Bahri) has secured a major contract to transport crude oil on VLCC supertankers from the Arabian Gulf to refineries in South Korea. The announcement comes at a time when the carrier can also present a more than doubled net result for the 1st quarter 2015.

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Saudi Arabian tanker giant lands ten-year contract

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Platou: Golden 2015 ahead for tankers

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Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

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Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

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Maritime & Merchant notes fierce competition in loans for shipping

Packed container ships trigger surge in air freight demand

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Analysis: Capesizes have become too expensive despite strong market