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Bahri inks $380m in Islamic financing for VLCC newbuilds

The National Shipping Company of Saudi Arabia (Bahri) has raised SAR1.425bn ($380m) in Islamic financing to pay for five VLCC newbuildings.

Marcus Hand, Editor

April 4, 2016

1 Min Read
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Bahri said it signed a Murabaha Facility Agreement with Riyad Bank to finance five VLCCs ordered at Hyundai Samho Heavy Industries last April.

The facility is for is 10 years and six months with a maximum two years grace period.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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