National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries, the Riyadh-listed firm said on Sunday.
Hyundai will build the tankers and deliver them to Bahri in 2017, a statement to Riyadh's bourse said. Bahri also has an option to buy five more. It did not say how much it would pay for the tankers, although each will have a capacity of 300,000 dead-weight tonnage.
Bahri became the sole provider of very large crude carrier crude oil shipping services to Saudi Aramco after it bought the marine unit of the oil giant in a deal first announced in 2012 but which was completed last year.
Bahri's first-quarter net profit more than doubled to 398.4 million riyals, the company said in April.
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