October 11 - The National Shipping Company of Saudi Arabia (Bahri) has sold its general cargo vessel Saudi Tabuk as part of its ongoing fleet replacement programme.
Saudi Tabuk was sold having finished her useful life at the shipping line for SAR29.17 million (USD 7.8 million) generating a net gain of SAR18.3 million (USD4.9 million) after deducting its book value and related sales expenses, says Bahri.
HLPFI reported in February 2013 that Bahri took delivery of its first-of-six general cargo ships from South Korea's Hyundai MIPO shipyard - a contract agreed in 2011 - with subsequent vessel deliveries taking place in May and July of this year. The remaining three newbuilds will be delivered over the remainder of 2013 and early 2014. (http://tinyurl.com/key4nh9)
Bahri has sold three other general cargo vessels during 2013, Saudi Abha, Saudi Diriyah and Saudi Hofuf. Saudi Tabuk is the fourth and final vessel sold for demolition.