National Shipping Company News

Bahri, the National Shipping Company of Saudi Arabia signed a Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernization program.Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth $756 million to partially finance the purchase of nine Very large Crude Carriers (VLCCs).

The National Shipping Company of Saudi Arabia (Bahri)  signed a purchase agreement to acquire nine Very Large Crude Carriers (VLCCs) from Capital Maritime and Trading Corporation for approximately $1B, the company said.The purchase is part of a modernization drive and will enable the company to start phasing out older vessels, Bahri said in a statement issued via Saudi Arabia's stock exchange.The ships will be delivered before the end of the first quarter of 2025, with Bahri paying for 10% of the purchase upon signing and the remainder upon delivery.Bahri operates 40 VLCCs, each with a capacit

Asyad Shipping, part of Asyad Group, and Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first ESG (Environmental, Social and Governance) report, in line with the established Global Reporting frameworks.Asyad Shipping, which operates a fleet of 85 vessels including gas carriers, very large crude carriers, product tankers and container ships, is one of the first maritime organisations in the Middle East to publish an ESG report.ESG reporting has become a growing necessity in the shipping sector as environmental concerns…

AD Ports Group in collaboration with KazMorTransFlot (KMTF), the national shipping company of Kazakhstan, has announced the acquisition and commencement of operations of two tankers designed for the transportation of Kazakhstan's oil across the Caspian Sea.The two oil tankers were named Liwa and Taraz - after ancient cities in the UAE and Kazakhstan, respectively, and have been acquired under AD Ports Group’s joint venture with KMTF - Caspian Integrated Maritime Solutions (CIMS).The two vessels represent a combined investment of USD35 million…

Lloyd’s Register (LR) has appointed Chakib Abi-Saab to its newly created role of Chief Technology and Innovation Officer (CTIO). Abi-Saab, who was previously with Bahri (formerly known as the National Shipping Company of Saudi Arabia) as their Chief Technology Officer, joins LR with considerable expertise in technology and digital enablement from both maritime and the oil and gas industry. Before his time with Bahri, Abi-Saab held executive roles at ship management company OSM, offshore energy provider Bumi Armada and Oil and Gas Services provider Baker Hughes.

Saudi Arabia said on Tuesday it had intercepted an explosive-laden boat off the Red Sea port of Yanbu after maritime security firms cited "unconfirmed reports" of an attack on a vessel in the area.A Saudi defense ministry statement on state media did not say whether there had been any damage as a result of the operation by the Saudi navy to intercept and destroy the remote-controlled boat.Security firm Dryad Global had earlier said it received "unconfirmed reports" that a vessel…

The chief executive of Saudi Arabia's Bahri said none of the firm's vessels have come under attack after a maritime security group cited unconfirmed reports of an assault off the Saudi Red Sea port of Yanbu."None of our vessels have been attacked," Abdullah Aldubaikhi, CEO of National Shipping Company of Saudi Arabia (Bahri), told Reuters by telephone.He said no vessel had been involved in any incident.Dryad Global said earlier it is receiving "unconfirmed reports" that a vessel, possibly the NCC Dammam oil tanker, which is owned by a Bahri unit, has been attacked off Yanbu.(Reporting by Ghaid

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…

The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics company said in a press release that its fourth-quarter net profit surged 172.48 percent to SAR 249.08 million ($66.4 million) from SAR 91.41 million reported in the same period in 2018.Total revenue came in at SAR 1.93 billion, up 8.85 percent from SAR 1.78 billion recorded in the corresponding period a year ago."The results show strong growth in profits despite a decline in the performance of the logistics services sector and an increase in financing expenses and provisions taken during the year…

Korea Shipbuilding & Offshore Engineering (KOSE), a manufacturer of oil tankers, cargo and passenger vessels, and warships, and Saudi Arabian Oil Company (Saudi Aramco) plans to set up a joint venture to build engines.According to South Korea’s Yonhap News Agency the JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom’s eastern coast in September 2020, and the project is set to be completed in May 2022.The Korean company is working to build a shipyard at the complex through a separate JV with Saudi Aramco, UAE-based Lamprell and the Saudi National Shipping Company (Bahri).

The owner and operator of very large crude carriers Bahri announced strong financial results for the third quarter ended September 30, 2019, on the back of solid growth in the logistics services sector.The National Shipping Company of Saudi Arabia said that its net profits soared 80.52 percent to SAR 146.73 million (USD 39.12 million), from SAR 81.28 million in the corresponding quarter in 2018, primarily due to an increase in returns of several operating segments.Bahri’s revenues during the three-month period between July and September jumped 6.28 percent to SAR 1.48 billion, from SAR 1.39 billion reported in the same period last year.

Saudi Arabia’s International Maritime Industries (IMI) has signed a vessel purchase agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri) and a subsequent sub-contract agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to build one very large crude carrier (VLCC).Hyundai Heavy will transfer architectural designs and related technological know-how for the building of very large crude carriers (VLCCs) to IMI. It will build one 319,000 DWT Class Crude Oil Carrier  with delivery expected in October 2021."This project award further strengthens the business relationship between IMI and its shareholders…

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.

The National Shipping Company of Saudi Arabia (Bahri) has posted revenues‏ ‏of SAR‏3.14 billion ($840million) for the first half of 2019, despite regional difficulties.The Riyadh-based transportation and logistics company reported revenue growth of six percent for the first half and income growth of three percent, to SAR 581.47 million.Net income reached SAR 224.9 million ‎during the first six months of 2019 in comparison to SAR 308.54 million‎ of the same period last year. Earnings per share for the first half of 2019 reached SAR 0.57 compared to SAR 0.78 for the same ‎period last year.‎Abdullah Aldubaikhi, CEO, Bahri, said: “The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through…

The National Shipping Company of Saudi Arabia (Bahri) on Sunday clarified that its very large crude carrier (VLCC) tanker Abqaiq was not breaching the US sanctions on Venezuela.Earlier, the US Senator Marco Rubio accused Bahri of trying to sell diluents to the Venezuelan regime."Abqaiq is in ballast condition with no cargo onboard and on her way from the Red Sea to pick up a cargo from the Port of Jose Terminal in Venezuela for one of its regular customers in India," said a statement from the national shipping carrier of Saudi Arabia.The Saudi oil tanker has set sail free of cargo from the Red Sea. Its destination is Venezuela’s Port of Jose to load a shipment agreed on Jan. 9, 2019, prior to the imposition of sanctions on Caracas, Bahri said in a statement.The U.S.

Two companies filled lawsuits this week in federal courts in Texas alleging that ships they operated in 2018 were damaged by contaminated bunker fuel sold by a Valero Energy Co subsidiary Valero Marketing and Supply Co, according to court documents.A Valero spokeswoman did not reply to a request for comment.The National Shipping Co of Saudi Arabia said it paid out more than $1.1 million for repairs and replacement fuel for a ship that drifted at sea for two days before restarting and arriving at Alexandria…

South Korean shipbuilder Hyundai Heavy Industries (HHI) said it has developed proprietary ICT technology capable of realizing economical and reliable navigation and management of ships: Integrated Smart Ship Solution (ISSS). HHI said the solution provides a wide range of ship information to operators, including optimal navigation routes and navigation speed along with a slope status of the front and back hull of a ship that minimize resistances a ship takes on voyage. ISSS is…

National Shipping Company of Saudi Arabia  Bahri announced that the Ministry of Transport under the supervision of the Public Transport Authority (PTA) has completed the registration of ASLAF, a Very Large Crude Carrier (VLCC) owned and operated by Bahri, under the flag of Saudi Arabia. The move reinforces Saudi Arabia’s position in the global maritime industry and gives a further boost to Bahri’s efforts to register all of its VLCCs – now numbering 39 – under the national flag by the end of 2017. Built by Hyundai Heavy Industries (HHI) in South Korea, the 300,000-dwt ASLAF arrived in the Kingdom yesterday, docking at Port of Ras Tanura near Dammam…

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 Port of New Orleans welcomed the return of roll-on, roll-off service with the inaugural call of the Bahri Yanbu, a new state-of-the-art multipurpose vessel, in mid-August at the Nashville Avenue Terminal Complex operated by Ports America. “The return of roll-on/roll-off service to the Port of New Orleans – for the first time since 2005 – helps us meet the diverse needs of the marketplace and increases our global competitiveness,” said Brandy D. Christian, Port of New Orleans President and CEO.

The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named “Lawhah” on Thursday, the company said. "Continuing its strong start to 2018, Bahri accepted the delivery of ‘Lawhah to further cement its market-dominant position in crude oil transportation," said a press release. The vessel, which lifts the total number of the company’s multipurpose fleet to 90, is the second of five VLCCs to be received this year from Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company based in South Korea. Bahri took the delivery of Lawhah at a ceremony held at the HSHI’s Mokpo shipyard in South Jeolla Province, South Korea, on February 1, 2018.

National Shipping Company of Saudi Arabia (Bahri) announced the transportation of the first chemical shipment from Aramco Trading Company (ATC), a wholly-owned subsidiary of Saudi Aramco that trades refined, liquid chemical and polymer products, via ‘NCC Amal,’ a 45,000 DWT Bahri chemical tanker which left Port of Rabigh heading to China. The shipment, which contains 25,000 metric tonnes of paraxylene (PX) and 20,000 metric tonnes of monoethylene glycol (MEG), marks the completion of Phase II of the Petro Rabigh Company (PRC) project, which was celebrated at a special ceremony in the presence of Abdullah Aldubaikhi, CEO of Bahri‎, Nasser D. Al-Mahasher, CEO of PRC, Ibrahim Q. Al-Buainain, CEO of ATC, and other representatives from the three companies.

National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Khurais, a very large crude carrier (VLCC), from Korean Hyundai Samho Heavy Industries (HSHI). Industry leader adds fourth VLCC this year, bringing its total number of vessels to 92,further enhancing its market-leading capabilities in crude oil transportation. The new addition is the fourth of five VLCCs to be received this year from South Korea-based Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company. ‘Khurais’ was delivered at a ceremony held at HSHI’s Mokpo shipyard in South Jeolla Province, South Korea, on 10 April 2018. Capable of transporting two million barrels of crude oil…