The National Shipping Company of Saudi Arabia (Bahri) is buying five MR tankers from Scorpio Tankers.

Bahri subsidiary National Chemical Carriers (NCC) is $166.5m to acquire five 2014-built MR tankers from Scorpio. The five vessels will be delivered to NCC between February and June this year.

Scorpio said it would record a write-down of $3.2m in Q1 in relation to the sale.