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The National Shipping Company of Saudi Arabia (Bahri) announces signing a non-binding Memorandum of Understanding with Suez Canal Authority (SCA) to cooperate in establishing a new Egyptian joint-stock company for maritime transport
4030
BAHRI
-0.18
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1444/08/09 01/03/2023 16:00:20
| Element List | Explanation |
|---|---|
| Introduction | The National Shipping Company (Bahri) is pleased to announce the signing of a non-binding Memorandum of Understanding with the Suez Canal Authority (SCA), which is an independent Egyptian public authority that manages and operates one of the world’s most heavily used shipping lanes. This cooperation aims to establish an Egyptian joint-stock company for maritime transport. |
| Memorandum Signing Date | 2023-03-01 Corresponding to 1444-08-09 |
| Counterparty | Suez Canal Authority |
| Memorandum Subject | To cooperate in establishing an Egyptian joint-stock company for maritime transport that will specialize in owning, leasing, chartering, and operating vessels to transport general and bulk cargo, chemicals, oil, and all operations related to maritime transport |
| Memorandum Duration | 6 months from the date of signing the MoU and can be renewed |
| Related Parties | N/A |
| Financial Impact | The financial impact cannot be currently determined. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 27.5
Net Change -0.05 (-0.18%)
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