Bahri lets go of the aging VLCC

Saudi Arabia’s largest shipping company, Bahri, has unloaded one of its oldest Very Large Crude Carriers (VLCCs).

The Riyadh-based tanker giant is said to have sold the tanker built in 2003 lulu to an unknown Chinese buyer for $42.5 million.

Established in 1978, Bahri is one of the world’s largest owners and operators of VLCCs with around 40 vessels.

The 316,500 dwt lulu was the company’s fourth-oldest unit and was valued at approximately $44.5 million, according to VesselsValue data. Bahri’s oldest VLCC, the one built by Samsung in 2001 harad is valued at $41.6 million, compared to approximately $29 million in the same period last year.

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