Abdullah Aldubaikhi News

Saudi Arabia said on Tuesday it had intercepted an explosive-laden boat off the Red Sea port of Yanbu after maritime security firms cited "unconfirmed reports" of an attack on a vessel in the area.A Saudi defense ministry statement on state media did not say whether there had been any damage as a result of the operation by the Saudi navy to intercept and destroy the remote-controlled boat.Security firm Dryad Global had earlier said it received "unconfirmed reports" that a vessel…

The chief executive of Saudi Arabia's Bahri said none of the firm's vessels have come under attack after a maritime security group cited unconfirmed reports of an assault off the Saudi Red Sea port of Yanbu."None of our vessels have been attacked," Abdullah Aldubaikhi, CEO of National Shipping Company of Saudi Arabia (Bahri), told Reuters by telephone.He said no vessel had been involved in any incident.Dryad Global said earlier it is receiving "unconfirmed reports" that a vessel, possibly the NCC Dammam oil tanker, which is owned by a Bahri unit, has been attacked off Yanbu.(Reporting by Ghaid

Bahri business unit will cement its position as world’s largest operator of chemical tankers in IMO2 MR class with 31 vesselsBahri said that its business unit Bahri Chemicals has concluded a long-term time charter agreement with Dubai-headquartered international shipping company United Arab Chemical Carriers Limited (UACC). As part of the deal, nine UACC IMO2 MR (medium range) chemical tankers will join Bahri Chemicals’ fleet from April 2021 onward, bringing the total number of vessels of the same class that it operates to 31.Eng.

The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics company said in a press release that its fourth-quarter net profit surged 172.48 percent to SAR 249.08 million ($66.4 million) from SAR 91.41 million reported in the same period in 2018.Total revenue came in at SAR 1.93 billion, up 8.85 percent from SAR 1.78 billion recorded in the corresponding period a year ago."The results show strong growth in profits despite a decline in the performance of the logistics services sector and an increase in financing expenses and provisions taken during the year…

The owner and operator of very large crude carriers Bahri announced strong financial results for the third quarter ended September 30, 2019, on the back of solid growth in the logistics services sector.The National Shipping Company of Saudi Arabia said that its net profits soared 80.52 percent to SAR 146.73 million (USD 39.12 million), from SAR 81.28 million in the corresponding quarter in 2018, primarily due to an increase in returns of several operating segments.Bahri’s revenues during the three-month period between July and September jumped 6.28 percent to SAR 1.48 billion, from SAR 1.39 billion reported in the same period last year.

Saudi Arabia’s International Maritime Industries (IMI) has signed a vessel purchase agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri) and a subsequent sub-contract agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to build one very large crude carrier (VLCC).Hyundai Heavy will transfer architectural designs and related technological know-how for the building of very large crude carriers (VLCCs) to IMI. It will build one 319,000 DWT Class Crude Oil Carrier  with delivery expected in October 2021."This project award further strengthens the business relationship between IMI and its shareholders…

The National Shipping Company of Saudi Arabia (Bahri) has posted revenues‏ ‏of SAR‏3.14 billion ($840million) for the first half of 2019, despite regional difficulties.The Riyadh-based transportation and logistics company reported revenue growth of six percent for the first half and income growth of three percent, to SAR 581.47 million.Net income reached SAR 224.9 million ‎during the first six months of 2019 in comparison to SAR 308.54 million‎ of the same period last year. Earnings per share for the first half of 2019 reached SAR 0.57 compared to SAR 0.78 for the same ‎period last year.‎Abdullah Aldubaikhi, CEO, Bahri, said: “The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through…

Bahri, the world's largest owner and operator of very large crude carriers, has signed a Memorandum of Understanding (MoU) to build its first very large crude carrier (VLCC) at the International Maritime Industries (IMI) yard in Saudi Arabia.The agreement signed with IMI and Hyundai Heavy Industries (HHI), one of the partners in IMI, sees Bahri committing the new mega-shipyard its first order before the end of July 2019.Following the placing of the order, IMI will engage HHI as a sub-contractor to build the vessel in South Korea. HHI, in turn, will help facilitate the transfer of knowledge enabling IMI to independently build VLCCs to international shipbuilding standards in Saudi Arabia.Abdullah Aldubaikhi…

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.

Bahri  reported a revenue growth of 24.2 percent for the quarter ending  December 31, 2018. Total revenues grew to $475 million compared to $381 million during the same period in 2017.For Q4 2018, Bahri registered a net profit of $24.3 million, a 12 percent increase over the preceding quarter’s net income of $21.6 million. Operating profit increased by 39.7 percent  to $98 million, in comparison to $73.6 million in Q4 2017. Operating profit surged 177 percent from $37 million compared to the third quarter of 2018.For the fiscal year 2018…

Saudi Arabian shipping company Bahri said that its CEO Abdullah Aldubaikhi has been appointed to the board of directors of ITOPF, the world’s largest ship owner organization providing objective advice on effective response to spills of oil, chemicals and other substances in the marine environment.With the organization’s Board including 23 CEOs of major global tanker owners and operators, ITOPF’s efforts are aimed at improving the preparedness and response to spills of cargo and/or fuel from ships around the world.Effective November 8, 2018, Aldubaikhi’s appointment will see him contribute his expertise and deep knowledge of the industry to enhance ITOPF’s governance, with an overarching objective of serving the best interests of shipowners and stakeholders worldwide.

Saudi Arabia's Bahri is targeting acquisitions in Asia and the Middle East as the exclusive oil shipper for state energy giant Saudi Aramco seeks to expand its reach, the chief executive said on Wednesday.Bahri is the world's largest owner and operator of very large crude carriers (VLCCs). Saudi sovereign wealth fund the Public Investment Fund (PIF) owns 22 percent of the company and Aramco has a 20 percent stake."We are looking at multiple acquisitions in the Middle East and Asia worth tens of millions of dollars…

National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Khurais, a very large crude carrier (VLCC), from Korean Hyundai Samho Heavy Industries (HSHI). Industry leader adds fourth VLCC this year, bringing its total number of vessels to 92,further enhancing its market-leading capabilities in crude oil transportation. The new addition is the fourth of five VLCCs to be received this year from South Korea-based Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company. ‘Khurais’ was delivered at a ceremony held at HSHI’s Mokpo shipyard in South Jeolla Province, South Korea, on 10 April 2018. Capable of transporting two million barrels of crude oil…

National Shipping Company of Saudi Arabia (Bahri) announced the transportation of the first chemical shipment from Aramco Trading Company (ATC), a wholly-owned subsidiary of Saudi Aramco that trades refined, liquid chemical and polymer products, via ‘NCC Amal,’ a 45,000 DWT Bahri chemical tanker which left Port of Rabigh heading to China. The shipment, which contains 25,000 metric tonnes of paraxylene (PX) and 20,000 metric tonnes of monoethylene glycol (MEG), marks the completion of Phase II of the Petro Rabigh Company (PRC) project, which was celebrated at a special ceremony in the presence of Abdullah Aldubaikhi, CEO of Bahri‎, Nasser D. Al-Mahasher, CEO of PRC, Ibrahim Q. Al-Buainain, CEO of ATC, and other representatives from the three companies.

The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named “Lawhah” on Thursday, the company said. "Continuing its strong start to 2018, Bahri accepted the delivery of ‘Lawhah to further cement its market-dominant position in crude oil transportation," said a press release. The vessel, which lifts the total number of the company’s multipurpose fleet to 90, is the second of five VLCCs to be received this year from Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company based in South Korea. Bahri took the delivery of Lawhah at a ceremony held at the HSHI’s Mokpo shipyard in South Jeolla Province, South Korea, on February 1, 2018.

Saudi Arabian maritime transport and logistics company Bahri has appointed Abdullah Aldubaikhi as its new chief executive office. Aldubaikhi’s appointment, which takes effect January 1, 2018, comes as the company gears for a new phase of expansion following several months of growth, according to Bahri chairman, Abdulrahman M. Al-Mofadhi. Aldubaikhi joins Bahri from Saudi Agricultural and Livestock Investment Company (SALIC), where he served as CEO for six years. He previously held senior management roles at several firms, including Afwaf Investment, Awalnet and DowLog Technology Company.