Bahri receives new VLCC from Hyundai Heavy Industries
Saudi Arabia-based Bahri has taken delivery of a 300,000dwt very large crude carrier (VLCC) from South Korean shipbuilder Hyundai Heavy Industries (HHI).
The newly received vessel is named Maharah and is Bahri’s 38th VLCC. It represents the company's second delivery so far this year.
The carrier features the latest environmental and fuel-efficient solutions and will be operated by Bahri Oil, which is one of Bahri’s six business units.
Bahriacting CEO Ali Al-Harbisaid: “The partnership between Bahri and Hyundai Heavy Industries spanning over a decade has been highly successful, with 26 vessels ordered and delivered to date and eight more VLCCs currently on order, among which three will be delivered this year.
“With increased capacity and tonnage, we can continue to deliver world-class transportation solutions and value to our customers, shareholders and staff.
“Bahri is a homegrown Saudi brand and a remarkable success story that further enhances the country’s position on the world map.”
The company currently owns 85 vessels, including 38 VLCCs, 36 chemical / product tankers, six multipurpose vessels and five dry-bulk carriers.
Hyundai Heavy Industries president and CEO M K Yoon said: “Apart from the commercial significance, our relationship with Bahri is one that holds immense strategic importance not only for our two organisations but also for our two nations.
“With over 30 ocean-freight vessels delivered or currently on order, and other significant collaborative plans in the discussion or planning phase, HHI and Bahri are set to alter the course of the global shipping industry.”
HHI and its three shipbuilding affiliates secured new orders worth a combined $21.1bn in 2016.
Image: Delivery of Maharah to Bahri. Photo: courtesy of Bahri.