|
|
 Dry Bulk
|
NSCSA, in line with the compliance of its strategic initiatives to diversify further, has signed an agreement with Arabian Agricultural Services Company (ARASCO), on Saturday, the 28th August 2010 to establish a Joint Venture Company to transport dry bulk cargo, with a capital of 200 million Saudi Riyals, 60% owned by NSCSA and 40% by ARASCO. ARASCO is the largest bulk importer into the region and has know-how and experience in grain commodities imports. The Joint Venture Company is named as Bahri Dry Bulk and expected to become operational during 2011. The initial estimated investment for Bahri Dry Bulk is about 656 million Saudi Riyals, reaching almost 1,325 million Saudi Riyals during the first three years. The investment is expected to be financed 30% by the partners and 70% through financial investment institutions.
The addition of this activity enables NSCSA to undertake dry-bulk transportation which represents about 23% of the total cargo imported to Saudi Arabia along with its other key activities (Oil & Gas, Petrochemicals, General Cargo & Ship Management, etc.).
|
|
|
The activities of Bahri Dry Bulk would be:
|
- Acquire, own, charter and commercially operate a fleet of dry bulk vessels.
- Upon owning vessels of suitable sizes (76 - 80,000 dwt), to lease them on a long-term contracts to ARASCO to transport / import dry bulk cargo.
- Acquire initially 4 to 5 vessels and then expand the fleet subsequently
Bahri Dry Bulk has been registered and the Board Members / Organization Structure finalized. Capital funding by NSCSA & ARASCO arranged and the Company specific chart of accounts completed.
|
|
| |
|
|
|
|
 Please use the contact details below should you have any inquiries about Dry Bulk services provided by NSCSA
The National Shipping Company of Saudi Arabia
NSCSA Building #569,
Sitteen Street, Malaz Area
P.O. Box: 8931
Riyadh 11492 (K.S.A.)
Tel: 00966-1-4785454
Fax: 00966-1-4778036 / 477-7478
Email: info@nscsa.com.sa
|
|
|
For NSCSA's office contact information please click here, or use our contact form for direct inquiries
|
|
|
Navigate through the NSCSA Dry Bulk photo gallery to view the ships
|
| |
|
|
