Bahri Adds New VLCC to Its Fleet

first_imgThe National Shipping Company of Saudi Arabia (Bahri) expanded its fleet as it took delivery of a new very large crude carrier (VLCC) on January 22.The 300,000 dwt tanker, which was named Kassab, was built by South Korea’s Hyundai Samho Heavy Industries.Bahri said it expects the ship to start its commercial operation in March 2018, adding that the financial impact of the new VLCC is set to be in the first quarter of 2018.The 330-meter-long and 60-meter-wide vessel is one of five VLCCs that were ordered from the shipbuilder in 2016. In November the same year, Bahri reached a financing agreement with Standard Chartered Bank, Arab National Bank, National Bank of Abu Dhabi and Bank Albilad, which partially funded the construction of the ships.According to the company’s stock exchange release in November 2016, the financing agreement amounted to USD 350 million for a period of ten years, plus a grace period of 22 months for guarantees.The remaining ships under the deal are expected to be handed over to Bahri by mid-2018, data provided by VesselsValue shows.last_img read more

Four youths won’t be charged in stabbing

first_imgJane Robison, a spokeswoman for the Los Angeles County District Attorney’s Office, said no charges were filed against the four because none carried weapons. “The victim allegedly started a fight,” she said. “We did reject charge against the four because there was insufficient evidence to file any charges.” Police had reports of several men running from the pier just after the stabbing. The group was found in a parking lot in the 1100 block of Pacific Coast Highway, police said. In all, six persons were arrested in connection with the incident. They were identified as Andrew Alvarado, 18, Kenneth Scialpi, 21, Gabriel Fernandez, 18, and Daniel Fernandez, 21, all from West Covina. Michael Tejada, 20, of Temple City was also arrested. A 17-year-old, who was not identified, was released to his parents, authorities said. Prosecutors have filed one count of assault with a deadly weapon against Scialpi. Bail was set at $80,000. He is due in court on June 21 for a preliminary hearing. (626) 962-8811 Ext. 2717160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WEST COVINA – Four of five men arrested in connection with a Santa Monica Pier stabbing have been released without charges being filed against them, prosecutors said Thursday. A fifth man was charged with assault with a deadly weapon and was released on bail, according to court records. The men, from West Covina and Temple City, were visiting the pier May 17, when they were involved in an altercation with a homeless man, said Mitchell Alvarado, father of Andrew Alvarado, 18. “Basically the boys went down there, and they were hanging out when a homeless gang member confronts one of the boys,” Mitchell Alvarado said. “The gang member swings at him. It ended up being a big fight and they think one of the kids stabbed the homeless guy.” last_img read more