February 22, 2017 / 5:23 AM / 6 months ago

BRIEF-Bahri, Bunge to form ocean freight joint venture

Feb 22 (Reuters) - Bunge Ltd

* Bahri and Bunge to form ocean freight joint venture

* JV will operate under name Bunge Bahri Dry Bulk Ltd.

* Financial terms of agreements were not disclosed

* company plans to ship over 5 million metric tons in year one, ramping up volume over time to double-digit figures

* Joint venture will be financed pro rata by bdb and bunge

* BDB and Bunge will own 60/40% of JV respectively, and it will be registered and based in Dubai

* JV will charter, commercially operate Supramax / Panamax initially from fleet currently owned/managed by BDB & subsequently from 3rd parties Source text for Eikon: Further company coverage:

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