Saudi's Bakri Navigation picks up chemical tanker
Saudi Arabia’s Bakri Navigation is reported to have purchased a chemical tanker from Danish company Eitzen Chemical.
Brokers in Europe are suggesting Bakri paid $21.5m for the 19,982-dwt Sichem Pace, built 2006 in Japan.
The new acquisition means Bakri now have 14 vessels in their fleet, including 12 tankers, with a total value of just over $230m.
According to Greek brokers Intermodal, the purchase was made during a time that has seen the Sale and Purchase market maintain good volumes of activity.
“Irrespective of any volatility that might be witnessed by freight rates in the short term, we expect an active Q4 in terms of second hand sales as more owners appear ready to bet on a market recovery being noted over the next couple of years,” read a report by Intermodal released Wednesday.