The Saudi logistics company Bahri will take ownership of 10 medium-range tankers through a $410 million deal with South Korea’s Hyundai Heavy Industries. The 49,999 dead wight tonnage (dwt) vessels are to start being delivered from the first quarter of 2022.
“Bahri has always remained keen on the continual enhancement of its enormous fleet of multi-purpose vessels,” said Abdullah Aldubaikhi, CEO of Bahri. “The new agreement with HMD 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.”
In May, Bahri took delivery of a dry-bulk carrier ‘Sara,’ which is the first ship received as part of the agreement signed between Bahri Dry Bulk and HMD in August 2017 to build four new dry-bulk carriers by this year.
In addition to the three other bulk carriers under construction, the company is also expecting a new VLCC, being built by International Maritime Industries (IMI) and delivered by October 2021, lifting Bahri’s fleet of multi-purpose vessels to 101.
The Middle East’s largest owner and operator of chemical tankers, Bahri owns and operates 87 vessels, including 41 VLCCs, 34 chemical and product tankers, six multipurpose ro-ro vessels, and six dry-bulk carriers, in addition to four other carriers on order.