Bahri Bulk joint venture agreement with Koninklijke Bunge B.V.

22/02/2017 09:06 AST

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed today 22 Feb 2017 a joint venture agreement with Koninklijke Bunge B.V. (Netherlands Company) (Bunge) (the Agreement). Pursuant to the Agreement, BDB and Bunge intend to establish a joint venture in Dubai, UAE, with an intended capital commitments to the joint venture amounting up to USD35.000.000 through shareholders. The joint venture will be engaged in chartering vessels for the purpose of importing and exporting dry bulk commodities into and from and within certain countries in the Middle East. BDB will own (60%) of the shareholding in the joint venture and Bunge will own the remaining (40%). While the initial term of the joint venture agreement is five years, the parties expect the duration of their cooperation to be substantially longer. BDB and Bunge expect to complete the establishment of the joint venture by the second quarter of 2017. Financial impact is expected starting from the fourth quarter of 2017 and Bahri will announce any material developments once available.


Tadawul

News

Bahri Announces that it received a Very Large Crude Carrier

23/01/2018

Bahri announces that it has received On Monday 22 January 2018 G a new VLCC that was named (Kassab). The newly received VLCC is one of the 5 VLCCs that were financed by Standard Chartered Bank, Arab

Tadawul

Bahri gets $96m funding for 4 new bulk carriers

11/01/2018

Bahri Dry Bulk, a business unit of global logistics leader Bahri, has secured a Sharia-compliant funding of SR360 million ($96 million) from Saudi Arabia-based Bank Albilad to finance the purchase of

Trade Arabia

Bahri announces its intention to sell part of its stake in Petredec

12/11/2017

The National Shipping Company of Saudi Arabia (Bahri) announces the commencement of the process to sell part of its 30.3% stake in Petredec Limited, a company based in Bermuda specialized in transpor

Tadawul

Most Viewed Companies

Ticker Price Volume
NAYIFAT 13.94 229,739
LUMI 77.50 102,302
ALRAJHI 85.00 7,711,297
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409
IHGS 4.20 344,581
RIBL 24.84 6,676,931

Valuation

BAHRI Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
SAUDIARAMCO 27.10 0.05 (0.18%)
ABAR 138.00 2.00 (1.47%)
ADNOCGAS 3.14 0.00 (0.00%)
ADNOCDRILL 4.68 0.04 (0.86%)
ADES 20.08 0.10 (0.50%)

Recent News

EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

logo

Financial Information Co.

(MITCO), P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap