Thursday 18 December 2014
 
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Saudi shipper plans long-term financing for Vela debt

National Shipping Company of Saudi Arabia (Bahri) plans to arrange long-term sharia-compliant financing in 2015 to replace a bridge loan backing its $1.3 billion acquisition of Saudi Aramco's marine unit, it said on Sunday. Th

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Bahri wins top Arab shipping award

The National Shipping Company of Saudi Arabia (Bahri) said it has won top recognition for its maritime achievements in the region by Forbes Middle East . A major player in the marine sector, Bahri owns and operates a fleet of 44 v

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Bahri eyes sukuk to fund Vela buy

  National Shipping Company of Saudi Arabia (Bahri) is considering a debut Islamic bond issue to help refinance debt taken on for its $1.3 billion acquisition of Saudi Aramco's marine unit last year, three sources said.

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Aramco, Bahri reach agreement on merger terms

The National Shipping Company of Saudi Arabia (Bahri) and state oil giant Saudi Aramco have reached an agreement on the terms and conditions of Bahri's merger with Aramco's Vela International Marine unit, the firm said in a bourse statem

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Saudi shipping firm gains 9pc on merger

Shares at Saudi National Shipping Company (Bahri) rose 9 per cent on Saturday after it signed an agreement with Saudi Aramco to buy its Vela marine unit for $1.3 billion in cash shares. On Wednesday State oil giant Saudi Aramco and Bahri a

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Aramco unit takes delivery of new VLCC

State oil giant Saudi Aramco said its shipping subsidiary Vela International Marine had started to operate a new Very Large Crude Carrier (VLCC). Matar Star, which is the third of four VLCCs Vela ordered from South Korea's Daewoo Ship

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