JEDDAH – The National Shipping Company of Saudi Arabia (BAHRI) announced Wednesday that its 80 percent owned subsidiary company The National Chemical Carriers Ltd. Co. (NCC) received Tuesday from Korea a new chemical tanker named NCC SAMA with DWT of 45,000 tons from SHINAsb (previously SLS) of South Korea, as part of nine vessels previously contracted by NCC from this yard during 2006 - 2007 for a total value of approximately SR1.72 billion). The financial impact of the delivered tanker on the company revenue will appear starting from the delivery date. NCC has additional One vessel under construction at SHINAsb in South Korea for a value of SR195 million, with delivery expected during this year or early next year, in addition to one large chemical tanker of 75,000 DWT, to be constructed at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) of South Korea at the price of approximately SR247 million, for delivery during 2013. NCC currently operates a fleet of 22 vessels that are specialized in transporting Chemicals, Vegoils and Clean Petroleum Products with DWT capacity of nearly 985,000 tons, which will grow to 25 vessels and 1.1 million DWT by 2013. BAHRI, headquartered in Riyadh, is one of the largest shipping companies in the world with operations in the oil & gas, chemicals, dry bulk and general cargo segments. BAHRI owns and operates a modern fleet of 17 VLCCs, 22 chemical tankers, and 4 ROROs in addition to 5 dry bulk carriers, 3 chemical tankers and 6 multi-purpose general cargo ships under construction. — SG
