Bahri, the national shipping carrier of Saudi Arabia, has signed a memorandum of understanding (MoU) with compatriot mining company Ma’aden to strengthen its logistics sector ties.
As part of the deal, the parties will explore cooperation across various fields, including chartering cargo ships to transport ammonia gas and dry transport needs among others.
Mohammed Bin Battal, president of Bahri Dry Bulk, and Anas Albassam, vice president of Commercial and Market Development Phosphates at Ma’aden, signed the agreement at a ceremony on the sidelines of the Future Minerals Forum held in Riyadh from 11-13 January 2022.
Commenting on the agreement, Abdullah Aldubaikhi, CEO of Bahri, said: “ As a company committed to contributing to Saudi Arabia’s maritime goals set out in Saudi Vision 2030 , Bahri sees this agreement with Ma’aden as an essential step towards bolstering the Kingdom’s raw materials trade”.
“The strategic partnerships being forged with national companies such as Ma’aden in the next few years will prove the most fruitful for our long-term growth and stability, both regionally and internationally”.
In 2020, the logistic company signed a five-year framework agreement with Saudi Arabia’s Presidency of State Security (PSS), the country’s security body, to serve as the official carrier for PSS and all its divisions.
Bahri is known as one of the largest owners and operators of very large crude-oil carriers (VLCCs) in the world, and the largest owner of chemical tankers in the Middle East.
The company owns and operates a total of 90 vessels, including 42 VLCCs, 33 chemical and product tankers, 6 multipurpose vessels, and 9 dry-bulk carriers.
In October 2021, Bahri added its first gas-ready vessel named Rayah to the VLCC fleet. The ship was built by International Maritime Industries (IMI) and Hyundai Heavy Industries (HHI) at HHI’s shipyard in Ulsan, South Korea, as part of a $98.9 million contract signed in September 2019.
Soon, the company will welcome Ahmed Ali Alsubaey as the new CEO . Alsubaey was the CEO of S-Oil in South Korea, will assume the new role on 1 April 2022.