Bahri Annual Report-2008

Board of Directors Report

Petrochemicals' Transportation

In collaboration with SABIC, in 1990 the NSCSA founded the National Chemical Carriers Limited Company at a share of 80% and 20% respectively. The National Chemical Carriers Limited Company (NCC) is considered as one of the leading international companies specialized in the transportation of petrochemicals, has a capital of Saudi Riyals 610 million.

Within the framework of the National Chemical Carriers company's strategic plan to increase the capacity of its fleet to approximately 1.3 million static tons and the number of owned vessels to (29) carriers, NCC received four new carriers in 2007 and 2008, and contracted with SLS SHIPBUILDING CO. for building sixteen (16) carriers which are expected to be received during the period from 2009 to 2012.

Chemical carrier fleet operational and under construction

Weight )StaticTons(

Length )Meter(

Width )Meter(

Number of Tanks

Speed )Knots(

June 1982 Oct.1982 Jan.1988 Jan.1995 May 1995 Oct.1996 Oct. 2005 Oct. 2005 Apr. 2006 Jun. 2006 Jul. 2007 Aug. 2006 Aug. 2007 Nov. 2007 Jan. 2008 Mar. 2008 Sep. 2009 Jan. 2010 Jan. 2010 Apr. 2010 Jun. 2010 Aug. 2010 Jan. 2011 Mar. 2011 May 2011 Date of Delivery

Year of Manufacture

Type

Carrier Name

NCC Assir (1) NCC Arar (1) NCC Baha (1)

23.000 23.000 24.700 37.500 37.500 37.500 46.200 46.200 46.200 46.200 46.200 46.200 46.200 46.200 46.200 46.200 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 1.365.200

1982 1982 1988 1995 1995 1996 2005 2005 2005 2006 2006 2006 2007 2007 2008 2008 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2011 2012 2012

158.95 158.9 172.4 183.1 183.1 183.1

23.1 23.1 27.7 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2 32.2

28 28 25 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22 22

16 16 14.5

Double Hull

NCC Riyadh (2) NCC Makkah (2) NCC Jubail (2)

16 16 16 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15 15

Double Hull

NCC Najd NCC Hijaz NCCTihama NCC Abha NCCTabuk

183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183 183

Double Hull

NCC Qassim NCC Rabegh NCC Sudair NCC Dammam NCC Hail

Double Hull

Hull # 490 Hull # 491 Hull # 492 Hull # 493 Hull # 494 Hull # 495 Hull # 500 Hull # 501 Hull # 508 Hull # 509 Hull # 536 Hull # 537 Hull # 538 Hull # 539 Hull # 540 Hull # 541

32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20 32.20

Double Hull

Jul. 2011 Jul. 2011

Double Hull

Aug. 2011 Oct. 2011 Dec. 2011 Jan. 2012 March 2012

Double Hull

Total

(1)These carriers were sold and expected to be delivered to the buyer during the month of January 2009. (2)These carriers (NCC Riyadh, NCC Mekkah, and NCC Jubail) have been leased (Bareboat) to "Odfjell" for a period of ten years, with an option to exercise the right of purchase after the third year.