Saudi Arabia’s national shipping carrier Bahri has formed a strategic partnership with gas carrier owner Petredec focused on meeting Saudi Arabia’s increasing LPG and ammonia shipping demands.
The two companies intend to establish a dedicated joint commercial team, led by Bahri Oil and Petredec, as the new chapter in their long-term collaboration.
The strategic partnership builds on Bahri’s 40% shareholding in Petredec, combined with the latter’s LPG logistic and value chain platform, to address increasing regional and global demand for LPG and ammonia transportation.
Giles Fearn , CEO of the Petredec Group, commented: “For two decades, our relationship with Bahri has been built on mutual trust and shared objectives. It has been both productive and a pleasure to work with Bahri as both a shareholder and fellow director. This partnership is a natural progression, combining our respective strengths to meet Saudi Arabia’s growing LPG and ammonia shipping needs. I look forward to our extended collaboration with Bahri as it broadens its role within the LPG sector.”
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Ahmed Ali Al Subaey , CEO of Bahri, added: “This strategic alliance with Petredec builds on two decades of partnership and underscores Bahri’s commitment to meeting Saudi Arabia’s growing demand for LPG and ammonia shipping solutions. Bahri will establish an in-house LPG team within Bahri Oil to target all future Saudi Arabian LPG and ammonia shipping requirements.
“By combining Bahri’s global expertise with Petredec’s renowned leadership in LPG and logistics platform, we aim to strengthen our presence in these critical markets. This initiative reflects our dedication to advancing the Kingdom’s Vision 2030 goals of enhancing economic growth and establishing Saudi Arabia as a global logistics hub.”