Arab Today, arab today saudi arabia\s national shipping company to buy four ships
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Saudi Arabia\'s National Shipping Company to buy four ships

Arab Today, arab today

Arab Today, arab today Saudi Arabia\'s National Shipping Company to buy four ships

Riyadh - Arabstoday

Saudi Arabia's National Shipping Company has recently signed a Murabaha financing agreement with the Saudi British Bank (SABB) and the National Commercial Bank for SR822.6 million (US$219 million). The proceed will be utilized to finance 80% of the cost of constructing two general cargo ships and 20% will be financed by the company and optional two ships that were contracted with Hyundai MIPO Shipyard in South Korea earlier this year. The financing tenor will be 12 years and will be repaid in equal quarterly installments and a balloon payment at the end of the tenor of about (30%) of the contract value. Repayment will start after three months from taking delivery of the ships. The ships will be mortgaged to the financing banks as security for the murabaha financing. The new deal was announced by the company's Chief Executive Officer, Eng. Saleh Nasser Al-Jasser, who added that these ships will replace the current 4 ships which are approaching the end of their estimated service lives. He also mentioned that those ships are specialized in transporting general and projects cargo and several types of RoRo cargo. The ships are equipped with heavy lift cranes and the deadweight of each ship is approx. 26,000 tons, in addition to the capability in carrying containers, in the designated area of the ship. Despite that the deadweight of these ships are less than the current ones, these ships have larger capacity utilization aspects and lower fuel consumption. The new ships will be serving as a liner between the United States East Coast to the Middle East (Red Sea-Arabian Gulf) and to the Indian Subcontinent via Europe.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi arabia\s national shipping company to buy four ships Arab Today, arab today saudi arabia\s national shipping company to buy four ships

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi arabia\s national shipping company to buy four ships Arab Today, arab today saudi arabia\s national shipping company to buy four ships

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday