Bahri buys two USD 96 mn Chinese product tankers

Bahri continues its shopping spree with two new tankers: Saudi Arabia’s national shipping carrier Bahri bought two Chinese 50k dwt MR2 product tankers, Maritime Inspiration and Maritime Verity, from IMC shipping in Singapore, with a price tag of USD 96 mn in total, Trade Winds reports, citing US brokers with knowledge of the transaction. The vessels were built in 2021 by Guangzhou CSSC Longxue Shipbuilding.

Bahri has spent a total of USD 1.6 bn on the 17 ships it bought this year alone. These were 13 VLCCs, an MPP heavy-lift ship, an ultramax bulker and now the IMC MR2 pair of vessels. The sisterships’s final price per vessel was way below VesselsValue’s estimation of USD 57.2 mn, as determining the price was difficult with almost no transactions this year involving similar ships, the brokers told the newswire.

ICYMI: Bahri sold a 303k dwt VLCC Safwa, built in 2002, for USD 31.7 mn, and is buying a 2018-built 62k dwt ultramax bulker Amis Miracle from Wisdom Marine. This is weeks after the company acquired nine oil tankers for USD 1 bn from Capital Maritime and Trading Corporation.