Bahri Annual Report-2012

In addition to the aforementioned contracts and agreements, the Company’s fleet has undergone major changes and development. Most importantly, National Chemical Carriers Co. Ltd. (NCC) has received four vessels that were built in South Korea, and another vessel with a capacity of 75,000 DWT is to be received in 2013. For its part, Bahri Dry Bulk Co. LLC (BDB) has concluded contracts to build five Kamsarmax ships equipped with the latest technologies, designed pursuant to international regulations on environmental protection. Regarding the general cargo sector, the Company is expecting to receive six new ships by the end of 2013 and the beginning of 2014 in accordance with construction contracts. The aim of this step is to replace the current fleet of four ships and achieve further expansion. These remarkable achievements represent a great boost towards Bahri’s trajectory in achieving higher levels of excellence in the international logistic services sector. The Company is looking forward to achieve similar results in 2013 and the following years.

In conclusion, I would like to express my deepest gratitude to all of the Board of Directors of the Company and my colleagues in Bahri for all their hard work as a team. I would also like to express my gratitude to the Company’s shareholders and customers for their continuous trust and support in every step we take. As I always say, “the journey continues.”

Saleh Nasser Al-Jasser Chief Executive Officer


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