Tag Archives: Saudis Aim To Create The World’s Biggest Oil Fleet

Saudis Aim To Create The World’s Biggest Oil Fleet

Posted by aurelius77 on

Saudi Arabia aims to create the world’s largest fleet of oil tankers following the establishment of a new US $1.5 billion investment fund by Arab Petroleum Investment Corporation, (Apicorp), and National Shipping Corporation of Saudi Arabia (Bahri).

Under the Apicorp Bahri Oil Shipping Fund venture announced yesterday, fifteen very large crude carriers (VLCCs) would be added to the shipper’s expected fleet of nearly fifty such vessels over the next two years. Bahri currently owns 36 VLCCs and plans to add ten more by 2018. Continue reading →