The deal takes effect from the third quarter of this year and is expected to produce minimum annual revenues of SAR 250m ($66.65m) so will be a huge earner over ten years bringing in an estimated total of $666m.
Bahri said it expected the financial benefits to flow immediately the physical shipping deal commences.
The Saudi shipping concern has done substantial spot voyage chartering business with S-Oil for many years with the COA building on this relationship.
“The
