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Bahri And S-Oil Signed An Affreightment Agreement For 10 Years
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تاريخ التسجيل
Nov 2015
الاقامة
نظام التشغيل
رقم العضوية
216
09-12-2015, 12:33 PM
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09-12-2015, 12:33 PM
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Bahri And S-Oil Signed An Affreightment Agreement For 10 Years
09 April 2015
The National Shipping Company of Saudi Arabia (Bahri) announces that it
signed
with
s-oil
Corporation, Seoul, South Korea (Related Party) today, April 8th, 2015 a Contract of
affreightment
(COA) for a period of ten
years
to transport crude oil cargoes on VLCCs from the Arabian Gulf and Red Sea to Onsan, Korea. The commercial operation is expected to commence during the third quarter of 2015 and the financial impact is expected to appear in the third quarter of 2015. The expected minimum annual revenue is in the region of 250 million Saudi Riyals.
The Contract forges a new and increased level of relationship between the two companies, who have had substantial spot voyage charter business together during the past 10 years.
S-Oil
will benefit from the flexibility and quality operations that the
bahri
VLCCs bring to this partnership, while
Bahri
VLCCs will have continuous access to AG/East bound cargoes creating additional diversity of employment routes and the ability to further optimize fleet utilization.
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