Under the agreement, valued at approximately SAR 1.692 billion, IMI will build three VLCCs, each with a capacity of 320,000 deadweight tons (DWT). 

Bahri, a global leader in transportation and logistics, and International Maritime Industries (IMI), the largest integrated maritime facility in the MENA region, have signed a contract for the construction of three Very Large Crude Carriers (VLCCs) at IMI’s facility in Saudi Arabia, in conjunction with the Saudi Maritime & Logistics Congress.

Under the agreement

Under the agreement, valued at approximately SAR 1.692 billion, IMI will build three VLCCs, each with a capacity of 320,000 deadweight tons (DWT). The vessels will be equipped with advanced energy-efficiency technologies and are scheduled for phased delivery between 2029 and 2030.

Bahri’s strategy to modernize its fleet 

The contract forms part of Bahri’s strategy to modernize its fleet and expand its operational capabilities to meet the evolving demands of global energy markets. With this contract, the total number of vessels Bahri has contracted to be built in Saudi Arabia since the beginning of the year rises to nine vessels, comprising six Ultramax bulk carriers and three VLCCs.

Strengthen our capabilities with modern, more efficient vessels

Commenting on the agreement, Eng. Ahmed Alsubaey, CEO of Bahri, said: “Fleet modernization is a key pillar of our long-term strategy. This contract enables us to strengthen our capabilities with modern, more efficient vessels, while expanding our collaboration with IMI and supporting the development of Saudi Arabia’s maritime supply chain.”

Related: Bahri Logistics: Agreement with Grandweld Shipyard to Build Advanced Offshore Support Vessels

The continued advancement of Saudi Arabia’s maritime industry

Eng. Abdullah Al-Ghamdi, CEO of International Maritime Industries (IMI), added: “This milestone reflects the continued advancement of Saudi Arabia’s maritime industry. We look forward to supporting Bahri’s future requirements and contributing to the localization of shipbuilding capabilities in line with the Kingdom’s Vision objectives.”

About International Maritime Industries

International Maritime Industries (IMI) is a full-service maritime facility that provides building, maintenance, repair, and overhaul services for commercial vessels, including VLCC’s, bulk carriers, and offshore support vessels (OSVs). The company is headquartered in Dhahran, Saudi Arabia.

About: Bahri

Bahri, formerly known as the National Shipping Company of Saudi Arabia, is a transportation and logistics company, positioned as the national shipping carrier of Saudi Arabia. The company organises its operations into five business units: Oil, Chemicals, Logistics, Dry Bulk and Ship Management. Bahri's services include the transportation of crude oil, oil products, chemicals, bulk cargo, and roll-on/roll-off, as well as ship management and Bahri Marine.

Bahri is currently one of the world's largest owners and operators of Very Large Crude Carriers (VLCCs), as well as one of the largest owners of chemical tanker ships in the Middle East. The company currently owns 97 vessels, with more on order, including 50 VLCCs, 31 chemical/product tankers, seven multipurpose vessels, and 13 dry bulk carriers.

Source: Press Release received by Maritime Tickers

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