The National Shipping Company of Saudi Arabia (Bahri) announced that its National Chemical Carriers subsidiary signed on Wednesday 24th February 2016 a Memorandum of Agreement to purchase five second-hand Medium Range tankers.
The vessels were built in 2014 at Hyundai Mipo Dockyard in South Korea for Scorpio Tankers Inc.
As disclosed, the ships were bought for a total purchase price of USD 166.5 million.
Scorpio Tankers said that the product tankers in question are STI Chelsea, STI Lexington, STI Mythos, STI Olivia and STI Powai.
Scorpio added that it will record a write-down of approximately USD 3.2 million during the first quarter of 2016 in connection with the entry into this agreement.
The five ships will be delivered to NCC between 1st February and 30th June 2016.
Bahri said that the financial implication of these five MRs is expected during the 2nd and 3rd quarters of 2016.