Bahri, a world chief in logistics and transportation, signed a brand new settlement with Hyundai Mipo Dockyard, a member of Hyundai Heavy Industries (HHI) Group, which owns one of many largest state-of-the-art shipyards on the planet, to construct ten 49,999-dwt Medium Range (MR) chemical tankers.
Valued at USD 410 million (SAR 1.537 billion), the settlement was signed not too long ago at a digital ceremony, between Abdullah Aldubaikhi, CEO of Bahri, and Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, within the digital presence of key executives from each the businesses.
The vessel buy settlement comes as a part of Bahri’s ongoing endeavors geared toward increasing its marine capabilities and renewing its fleet. Scheduled to start out being delivered throughout the first quarter of 2022, the ten chemical tankers will likely be constructed to the best environmental, fuel-efficiency, and security requirements according to the corporate’s dedication to working responsibly.
Image Credits: bahri.sa
Commenting on the settlement, Abdullah Aldubaikhi, CEO of Bahri, mentioned: “As a company committed to contributing to Saudi Arabia’s maritime goals set out in Vision 2030, Bahri has always remained keen on the continual enhancement of its enormous fleet of state-of-the-art multi-purpose vessels. The new agreement with HMD for the building of 10 high-spec chemical tankers represents a major step forward in our next phase of growth and further strengthens our leading position in the global maritime industry. With the newbuilds entering our fleet over the next two years, we will be further equipped to cater to the varying needs of our customers around the world.”
Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, mentioned: “We are extremely pleased that this project has come to fruition, built upon Bahri’s continued confidence and trust in HHI Group’s capabilities. The new agreement is a compelling testimony to HMD’s superior value proposition and its advanced technology-enabled offerings. These 10 MR tankers will bring the tally of various types of vessels that we built for Bahri to 61. We are committed to ensuring that our long-standing partner receives high-quality and eco-friendly vessels this time as well, and sincerely hope this project further strengthens our concrete relationship with one of the most renowned shipping companies.”
In May 2020, Bahri took supply of its new dry-bulk provider ‘Sara,’ which is the primary ship obtained as a part of the settlement signed between Bahri Dry Bulk and HMD in August 2017 to construct 4 new dry-bulk carriers by 2020. In addition to the three different bulk carriers which might be below development, the corporate can also be anticipating a brand new VLCC, which is presently being constructed by International Maritime Industries (IMI) and will likely be delivered by October 2021, lifting Bahri’s fleet of multi-purpose vessels to 101.
One of the world’s largest homeowners and operators of VLCCs and the Middle East’s largest proprietor and operator of chemical tankers, Bahri owns and operates a complete of 87 vessels, together with 41 VLCCs, 34 chemical and product tankers, 6 multipurpose ro-ro vessels, and 6 dry-bulk carriers, along with 4 different carriers on order.
Reference: bahri.sa
