The Board of National Shipping Company of Saudi Arabia (Bahri) has approved the purchase of two second-hand very large crude carriers (VLCC) for a total price of US$155m.

In a stock exchange statement, Bahri said the vessels, Voss Spirit and Hemesdal Spirit, will be acquired from Alpha and Beta VLCC LLC, a subsidiary of Tanker Investment Ltd.

The VLCCs, built in 2010 at South Korean Daewoo Shipbuilding, are forecast to join Bahri's fleet between Jan. 14 and Feb. 1 next year.

Bahri added that the financial impact of the purchase is expected during the first quarter of 2016.