Saudi Arabia’s national carrier Bahri has signed a contract for the construction of three VLCCs worth nearly SAR 1.7 billion ($450m) at IMI’s facility in the Kingdom. The 320,000dwt vessels will be equipped with advanced energy-efficiency technologies and are scheduled for phased delivery between 2029 and 2030.
The contract forms part of Bahri’s strategy to modernise 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.
Commenting on the agreement, Eng. Ahmed Alsubaey, CEO of Bahri, said:“Fleet modernisation 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.”
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.”