Saudi Companies Sign Petrochemical Shipping Agreements

National Chemical Carriers (NCC; Riyadh), owned 80% by the National Shipping Company of Saudi Arabia (Bahri), will today sign time charter agreements for three chemical tankers with the Sabic subsidiary International Shipping and Transportation Company for a period of five years, with an option of extension for another five years. The value of the time charter agreements is approximately SR480 million ($128 million) for the first five years. The financial impact for the first and the second 45,000-dwt tankers will be booked during the third and fourth...

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