The National Shipping Company of Saudi Arabia (BAHRI), one of the world’s largest and most diverse shipping conglomerates, announced that the company will be participating in the 2012 Seatrade Middle East Maritime (SMEM) Exhibition & Conference and will be sponsoring the Press Office for the event.
Engr. Saleh N. Al-Jasser, Bahri CEO , will be one the keynote speakers of this event. A delegation of senior Bahri executives will attend the main panel discussions and plenary sessions at the conference.
In his keynote address, Engr. Al-Jasser provided a snapshot of the maritime industry in addition to plans for investment and expansion with emphasis on Saudi Arabia. Engr. Saleh shared highlights and insight on the oversupply of vessels, rising oil prices, falling freight rates, piracy, the growing Saudi Arabian economy, and expansion plans of maritime facilities.
“Just this past June, crude oil output reached the highest level in more than three decades. The Saudi economy is currently enjoying a cyclical boom that can in large part be attributed to the government’s monetary and fiscal policy,” said Engr Al Jasser.
“Economists forecast healthy real GDP growth for Saudi Arabia in 2013 and with private consumption patterns remaining robust, we also expect steady growth both in imports and exports.”
“Without doubt, Saudi Arabia’s competitive advantages and trade-friendly economy create the ideal conditions for the country to become a key player in the global shipping industry,” he concluded.
Most recently Bahri was recognized with the prestigious Euromoney 2012 award for the best managed company in the Middle East for transport and shipping. Earlier this month, Bahri and Saudi Aramco reached definitive terms on the merger of fleets and operations with Saudi Aramco shipping subsidiary, Vela International Marine Limited, making Bahri the exclusive provider of all crude shipping services to Saudi Aramco for crude oil sold by Saudi Aramco on a delivered basis.
The 6th edition of the largest event in the global sea trade calendar is being held at the Dubai International Convention and Exhibition Centre during 27-29 November 2012 and brings together international and regional experts to discuss emerging issues and trends in international trade and how the maritime industry will be affected.
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BAHRI, December 3, 2012