Riyadh – Mubasher: The National Chemical Carriers Co, a subsidiary of the National Shipping Company of Saudi Arabia (Bahri), signed a contract with Hyundai MIPO Dockyard Co, to build 10 chemical tankers for $410 million.
Each tanker will have a deadweight (DWT) capacity of 49,999 tonnes, according to a bourse filing on Thursday.
The IMO type 2 vessels are fuel-efficient and can carry both chemicals and clean petroleum products (CPP). The tankers are expected to be delivered in batches starting from the first quarter (Q1) of 2022 until Q1-23.
Moreover, the contract will be funded by the company's cash flow and bank financing.
The company is currently working on determining the expected financial impact, which will reflect upon delivery and operation of the tankers, the statement read.
