Saudi Bahri News

Saudi Arabian shipping company Bahri chartered more than a dozen very large crude carriers (VLCCs) in Persian Gulf in 24 hours.According to Reuters, the Saudi Arabia’s National Shipping firm has tentatively chartered as many as 14 super-tankers to ship crude oil to customers worldwide, as the Kingdom follows through with its promise to boost crude oil output.The spike in bookings by Bahri has helped to more than double the charter rates for VLCC amid this week’s ‘fixing frenzy’, shipping sources said. The bookings by Bahri are in addition to its own fleet of 42 VLCC’s which it mainly uses to ship Saudi oil to customers across the world…

A Reuters report quoting  Saudi Arabia's energy minister Khalid al-Falih said that the country expects a huge ship repair and shipbuilding complex that its national oil company Saudi Aramco is developing at Ras al-Khair on the kingdom's east coast to cost over 20 billion riyals ($5.33 billion). The government will finance the infrastructure of the complex such as dredging and other work as it did with other cities Jubail and Yanbu that have become major industrial hubs. The maritime complex is a joint venture between Saudi Aramco, Saudi Bahri, South Korea's Hyundai Heavy Industries and Lamprell. The project will help generate thousands of direct and indirect jobs…