Bahri Orders Ten Chemical Tankers from Hyundai for $410M

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, Bahri took delivery of its new dry-bulk carrier ‘Sara,’ the first ship received as part of the agreement signed between Bahri Dry Bulk and Hyundai Mipo Dockyard in August 2017 to build four new dry-bulk carriers by 2020. 

Bahri currently owns and operates a total of 87 vessels, including 41 VLCCs, 34 chemical and product tankers, 6 multipurpose ro-ro vessels, and 6 dry-bulk carriers.