Saudi Arabia’s shipping company, Bahri, signed a deal with International Maritime Industries (IMI) to build six Ultramax bulk carriers. This deal marks the Kingdom’s first large-scale commercial ship project. Moreover, the ships will be built at IMI’s Ras Al-Khair yard, the largest maritime facility in the Middle East. Therefore, experts see this as an important step for Saudi Arabia’s shipping industry.
Furthermore, this project is part of Bahri’s fleet upgrade program. Recently, the company also signed a $1 billion deal to buy nine very large crude carriers from Greece-based Capital Maritime and Trading Corp. As a result, Bahri shows its goal to modernize the fleet and expand its market reach.
Ahmed Ali Al-Subaey, Bahri’s CEO, said this deal is a major milestone for the company. He explained that the partnership with IMI for the first large-scale Saudi-built fleet will help make Saudi Arabia’s shipping sector stronger and more competitive. In addition, Al-Subaey said the project will improve supply chains, increase service options, and bring long-term benefits for customers and stakeholders.
The Ultramax carriers are flexible and efficient. They can reach ports with limited facilities. Consequently, Bahri can serve new markets and trade routes. Experts also point out that this will reduce risks from market changes and make shipping more stable. Moreover, the project supports sustainable practices and strengthens the Kingdom’s maritime sector.
The deal shows Bahri’s support for Saudi Arabia’s growing shipping industry. At the same time, it strengthens the economy and improves trade routes. By building these ships, Bahri helps the country develop its industrial and trade abilities.
Financially, Bahri performed well in the first quarter. The company earned SR533 million ($142 million), which is an 18 percent increase from before. This growth came from better fleet use, ship sales, and diverse shipping services. Therefore, analysts say the first large-scale Saudi-built fleet will add to profits and stability.
Experts also point out that the first large-scale Saudi-built fleet marks a new era for Saudi shipping. They say it will boost operations, expand trade connections, and train more local shipbuilders. In addition, leaders agree this project shows Saudi Arabia can build important maritime infrastructure.
Overall, the first large-scale Saudi-built fleet strengthens Bahri’s plan to upgrade, grow, and stay strong in shipping. Therefore, the company leads Saudi Arabia toward a safe and competitive shipping future.
