FINANCIAL NEWS

Saudi Bahri, Korean S-Oil sign partnership agreement

12 Apr 2015

(MENAFN) National Shipping Company of Saudi Arabia (Bahri) signed an agreement with South Korean S-Oil Corp to transport crude oil freights, beginning from June, Saudi Gazette reported.

Through the transaction, Bahri forecasts to gather minimum revenues of around USD67 million. The contract’s validation is set for 10 years, in which Bahri will carry the shipments to South Korea.

It is worth mentioning that South Korea and Saudi Arabia have signed a nautical trade agreement in the Saudi capital during the recent visits for the Korean President to the Gulf region.

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