The Saudi National Shipping Company (Bahri) announced that, as part of a review of the company’s strategy for business and market sectors, the partners in Bahri Bunqi made a friendly decision to liquidate the company as of March 31 2020 as per the decision of March 31, 2020.

According to the company's statement to the Saudi market (Tadawul), Bahri Bunqi was established in 2017 with a paid-up capital of $ 5 million, and it is 60% owned by Bahri Bulk Cargo Company and 40 % For Koninklijke Bunge BV.

Bongi Bahri leases ships for the purpose of transporting imported and exported bulk cargo between the countries of the world and the Middle East.

Al-Bahri holds a 60% stake in Al-Bahri Bulk Goods Company.

The financial impact - which is not expected to be substantial - will be shown after the completion of the liquidation procedures in the consolidated statements of Bahri Company during the coming period.