The National Shipping Company of Saudi Arabia (NSCSA) BAHRI has ordered five Kamsarmax vessels from an undisclosed shipyard to transport dry bulk cargo.
Each of the dry bulk vessels will have a displacement of 82,000 dwt and a length of 229m to be delivered between 2013 and 2014.
The company said the addition of new vessels is a part of the strategy to expand its businesses which presently include the transportation of oil & gas, chemicals and general cargo.
Following delivery the vessels will be operated by the Bahri Dry Bulk, a joint venture company between National Shipping Company of Saudi Arabia (BAHRI) and the Arabian Agricultural Services Company (ARASCO).
The national Shipping Company of Saudi Arabia holds 60% stake in the JV while the Arabian Agricultural Services Company holds the remaining stake.
Currently BAHRI owns and operates a fleet of 19 chemical tankers, 17 VLCCs and 4 General/RoRo ships which is expected to increase to 52 vessels by 2014.