Riyadh-Mubasher: National Shipping Company of Saudi Arabia (Bahri) has signed on Wednesday an agreement with Al Inma Bank to obtain a credit facility worth SAR 700 million ($186.66 million), according to a statement.

The Islamic sharia-compliant loan will be used in financing 80% of purchasing three crude oil carriers.

The loan has a period of 10 years to be repaid through equal semi-annual installments which will be followed by a 30% final payment of the facility value. The repayment will begin in six month from starting the finance.