Bahri in its statement added that it strictly adheres to and ensures full compliance with the applicable laws and regulations in every market where it operates.
The work assigned to PowerChina will cover an area of 4.5 km by 2.5 km and will be intended for the building of very large crude carriers (VLCCs), offshore drilling rigs, production platforms and other vessel types.
Acquisitions in the pipeline will be financed from the company’s own funds and banking finance, the CEO said.
It’s unclear what additional security measures have been put in place to satisfy Bahri of the security of its vessels.
At least six Bahri-owned very large crude carriers (VLCCs) have anchored off Salalah as the Bab el-Mandeb strait ban continues.
Bahri said new vessels commissioned into Bahri’s fleet over the last six months helped it offset any negative impact of lower transportation rates during the quarter.
The statement came after the Saudi-led military coalition reported that Yemen’s Houthi movement attacked a Saudi oil tanker in the Red Sea.
Bahri signed a three-year agreement in May, 2015 for the construction of five VLCCs
Saudi shipping giant adds fourth VLCC this year, bringing its total number of vessels to 92.
Continuing its strong start to 2018, Bahri has taken delivery of ‘Lawhah’, a Very Large Crude-oil Carrier (VLCC), to further cement its market-dominant position in crude oil transportation.
Marking a strong start for 2018, Bahri in January took delivery of its first Very Large Crude-oil Carrier (VLCC) of the year.
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