Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) on Thursday has received a very large crude carrier (VLCC) named “Lawhah”.
The VLCC is one of five large crude carriers financed through a credit facility provided by Standard Chartered Bank, Arab National Bank (ANB), National Bank of Abu Dhabi, and Bank Albilad, according to Bahri’s statement to the Saudi Stock Exchange (Tadawul).
Lawhah’s commercial operation is expected to start in March, while its financial impact is forecast to appear in the financial statement for the first quarter of 2018.
Bahri’s net profit plunged 80.81% to SAR 60.51 million during Q3-17, from SAR 315.38 million in the same period a year earlier.
By 10:20 am KSA time, Bahri's stock rose 0.39% to SAR 30.60.
