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May 11, 2018

Bahri receives very large crude oil carrier from HSHI

Saudi Arabia’s Bahri has received the last in a series of ten very large crude oil carriers (VLCCs), Amad, from South Korean shipbuilding company Hyundai Samho Heavy Industries (HSHI).

Saudi Arabia’s Bahri has received the last in a series of ten very large crude oil carriers (VLCCs), Amad, from South Korean shipbuilding company Hyundai Samho Heavy Industries (HSHI).

Delivery of Amad represents the completion of a three-year agreement signed in May 2015 for the construction of five VLCCs with the option for another five to support HSHI’s long-term expansion strategy.

Amad is the 46th VLCC in Bahri’s fleet and will be operated on a time-charter / spot basis. The tanker has increased the company’s total fleet to 93 vessels and is expected to enter service within this month.

Designed to carry 2.2 million barrels of crude oil, the vessel is 333m long, 60m wide and has 30‎m of depth. The 300,000DWT vessel can travel at a speed of 14.4k.

“A strong fleet of VLCCs allows us to further penetrate and capture the lion’s share of the market through strategic expansions in key geographies.”

Bahri CEO Abdullah Al-Dubaikhi said: “Saudi Arabia is on the cusp of a number of major economic developments and milestones like the delivery of our 46th VLCC, ‘Amad,’ further strengthening our focus on playing an integral role in achieving the Kingdom’s Vision 2030 objectives.

“A strong fleet of VLCCs allows us to further penetrate and capture the lion’s share of the market through strategic expansions in key geographies, which will, in turn, provide a significant boost to the Kingdom’s ongoing efforts to establish itself as a unique regional logistics gateway to three continents.”

Amad has joined the nine tankers received by Bahri from HSHI, namely, Kassab, Lawhah, Qamran, Khurais, Amjad, Maharah, Aslaf, Rimthan, and Shaden.

Bahri received four of the carriers earlier this year, while the remaining vessels were received last year.

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