Hyundai hands over first of four new bulkers to Bahri
Shipbuilding Hyundai Vietnam (HVS), a division of Hyundai Mipo Dockyard Co. Ltd. (HMD), shipped a new dry-bulk carrier to Bahri, Saudi Arabia 's largest shipping carrier.
The bulk carrier, called Sara, is growing the company's dry-bulk carrier fleet to six ships in line with their attempts to improve their maritime capability. The ship has a draft plan speed of 14.20 knots at standard continuous rating (NCR) with a margin of 15 per cent.
The new Kamsarmax-class vessel is the first vessel received as part of the agreement signed in August 2017 between Bahri Dry Bulk and HMD of South Korea to construct and deliver four new dry-bulk carriers by 2020.
The ships are designed to meet the latest international technical specifications, and are equipped with environmentally friendly specifications and high fuel consumption efficiency.
For the four newbuildings the overall price tag was USD 120 million, i.e. USD 30 million per container.
In January 2018 Bahri Dry Bulk secured Bank Albilad a SAR 360 million ($96 million) to fund the purchase of the quartet.
Bahri said the new carrier would meet the Kingdom of Saudi Arabia's increasing demand for essential grain imports, such as wheat , barley, corn, and other dry bulk freight.
Maritime Business World