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August 28, 2017

Hyundai Mipo Dockyard to build four bulk carriers for Bahri

A subsidiary of Saudi Arabia-based transportation and logistics company Bahri, Bahri Dry Bulk, has awarded a $120m contract to Hyundai Heavy Industries (HHI) Group member Hyundai Mipo Dockyard for the construction of four new bulk carriers.

A subsidiary of Saudi Arabia-based transportation and logistics company Bahri, Bahri Dry Bulk, has awarded a $120m contract to Hyundai Heavy Industries (HHI) Group member Hyundai Mipo Dockyard for the construction of four new bulk carriers.

Construction of the vessels is set to begin immediately and delivery is scheduled for 2020.

Each of the vessels will be equipped with improved environmental, fuel-efficiency and safety features, and will be able to carry up to 80,000t of cargo per voyage.

Bahri acting CEO Ali Al-Harbi said: “The addition of four new vessels to our fleet is firmly aligned with Bahri’s long-term strategy for expansion and diversification.

“Upon delivery, the vessels will contribute towards the growing demand Bahri Dry Bulk is witnessing for the import of essential grains such as barley, wheat and corn into the Kingdom.”

Bahri currently owns 86 vessels, including 39 very large crude carriers (VLCCs), 36 chemical / product tankers, six multi-purpose vessels and five dry bulk carriers.

"The vessels will contribute towards the growing demand Bahri Dry Bulk is witnessing for the import of essential grains such as barley, wheat and corn into the Kingdom."

The company also has seven VLCCs on order.

Bahri Dry Bulk president Nezar Banabeela said: “For Bahri Dry Bulk, the additional vessels will help to address the needs of customers in Kingdom of Saudi Arabia (KSA) and the region, as well as international companies importing grains into the Kingdom.

“This in turn will enable food security for the Kingdom, and through this initiative we are proud to play an active role towards achieving an important objective of Saudi Arabia’s Vision 2030.”

Bahri Dry Bulk owns and operates a fleet of five dry bulk vessels, which are capable of carrying out environmentally friendly operations.


Image: Deal signing between Bahri Dry Bulk and Hyundai Mipo Dockyard. Photo: courtesy of Bahri.

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