Saudi Arabia's Bahri To Acquire 9 Advanced Oil Tankers For $1 Billion
Saudi Arabia’s leading national shipping company, Bahri, has inked a $1 billion deal to purchase nine advanced oil tankers from Capital Maritime and Trading Corporation (CMTC)s headquartered in Greece. The $1 billion deal allows Bahri to acquire nine Very Large Crude Carriers (VLCCs) from CMTC. Bahri will replace the new vessels with its aging carriers, ensuring operations run smoothly and efficiently. Also Read: Top 5 Commodities That Generated Massive Profits in 2024 The deal shows that the delivery of the nine advanced carriers must be completed during the first quarter of 2025. Saudi’s Bahri has completed an initial down payment of 10% and inked the deal. The remaining 90% of the fee will be settled during the delivery of the nine advanced carriers. Saudi Arabia’s Bahri To Get Advanced & Modern Carriers in Q1 of 2025 Source: CNBC The new carriers to Saudi Arabia will modernize Bahri’s fleet ensuring smooth and faster oil transport to other countries. It will ...