Bahri Dry Bulk News

Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony,  was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, said the latest order would bring the tally of various types of vessels that HHI has built for Bahri to 61.In May 2020…

Saudi Arabian ship owner Bahri said it has taken delivery of the new Kamsarmax bulk carrier Sara, built by Hyundai Vietnam Shipbuilding (HVS), a subsidiary of Hyundai Mipo Dockyard Co. Ltd. (HMD).The 81,000 dwt vessel is the first in a series of four ordered by Bahri Dry Bulk from South Korea’s HMD in August 2017. The three remaining vessels are all scheduled to be delivered this year.The new ship will transport basic grains, such as wheat, barley, corn and other dry-bulk cargoes, for import into Saudi Arabia.The 229-meter newbuild increases the Bahri’s fleet of dry-bulk carriers to six ships.

Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company‎ in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding company based in South Korea. The credit facility, which will be paid over six months, and has a tenure of 13 years including a three-year grace period, will be used to finance 80% of the agreement concluded on 27 August last year.

Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston. The Bahri booth at Breakbulk Americas was opened by Mr. Sultan bin Abdullah Al-Angari, Consul General of Saudi Arabia in Houston, during a ribbon-cutting ceremony on the first day of the annual event in the presence of Amal Al-Ruwaii, Director for Trade and Investment, Embassy of the Kingdom of Saudi Arabia in United States of America…

Following the announcement of the joint venture agreement by Bahri, a global leader in transportation and logistics, and Koninklijke Bunge, a wholly-owned subsidiary of Bunge Limited, a global agribusiness and food company, the two companies recently inaugurated the offices of BahriBunge Dry Bulk Ltd. in Dubai, UAE. In celebration of the occasion and reveal of the new company’s logo, Mr. Abdulrahman M. Al-Mofadhi, Chairman of Bahri hosted a special ceremony at Burj Al Arab in the presence of several Bahri board members, top industry high-level executives, representatives from Bunge, heads of Bahri’s business units, in addition to a number of officials representing major multinational companies.

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed contracts with Hyundai Heavy Industries (HHI) to build 4 bulk carriers. These carriers will be delivered during the first half of 2020. The financial impact of these contracts will appear after the delivery of the vessels. These vessels are designed to the latest international technical specifications and are fitted with environmentally-friendly specifications and high efficiency in fuel consumption, with a capacity of 80,000 metric tons / per carrier. "With construction commencing immediately…

The National Shipping Company of Saudi Arabia (Bahri) subsidiary Bahri Dry Bulk (owned 60% by Bahri and 40% by Arasco) has taken delivery of the vessel 'Bahri Bulk' from shipbuilders in Japan. Bahri inform that this is the third vessel delivered from the 5 vessels that were contracted from leading Japanese shipyards in 2012. The financial impact of the delivered vessel will materialize during the first quarter of 2014G. They explain that these vessels have a capacity of 82,000 dwt and length of 229 meters, consumes less fuel and are considered to be eco-friendly.

Bahri announce the Interim Consolidated Financial Results for the 12-month period ended 31st December, 2012. The National Shipping Company of Saudi Arabia (Bahri) report that Net profit, for the 12-months totaled SAR 500.4 million compared to SAR 287.7 million for the corresponding period for the year 2011, an increase of 74 %. However, Net profit, for the fourth quarter was down and totaled SAR 73 million compared to SAR 113.3 million for the corresponding quarter for the year 2011, a decrease of 35.6%. The CEO of Bahri, Eng.