Saudi National Shipping Company (Bahri) has announced the acquisition of six dry bulk carriers from International Maritime Industries (IMI), signifying the commencement of the country’s inaugural large-scale shipbuilding initiative.
The ships will be constructed at IMI’s advanced shipyard located in Ras Al-Khair, recognized as the leading full-service maritime facility in both the Middle East and North Africa.
This agreement highlights Saudi Arabia’s goal to develop a competitive maritime sector as part of its Vision 2030 economic diversification strategy and the Saudi Inc initiative, which aims to enhance local supply chains.
Transformative moment for Saudi Arabia’s maritime sector: Bahri CEO
“This deal signifies a pivotal moment for Bahri and for the maritime landscape in the kingdom,” stated Ahmed Ali Al-Subaey, CEO of Bahri. “In collaboration with International Maritime Industries to launch this first large-scale national shipbuilding program, we are not only upgrading our fleet but also establishing the foundations for a sustainable and competitive maritime industry on a global scale.”
Al-Subaey noted that these new carriers will enhance Bahri’s services in key markets, bolster supply chain reliability, and provide long-term advantages to customers and stakeholders, in alignment with the objectives of Saudi Vision 2030.
The newly designed geared Ultramax vessels aim to provide both operational flexibility and efficiency, enabling access to ports that may have limited facilities.
Bahri emphasized that this development will allow the company to engage in niche markets and explore emerging trade routes, decreasing its vulnerability to market fluctuations while enhancing competitiveness and sustainability.