Bahri Adds 38 th VLCC to its Growing Fleet of Multipurpose Vessels
Bahri, a global leader in transportation and logistics, today strengthened its placement as the world's largest owner and operator of Very Large Crude Carriers (VLCCs) with the addition of 'MAHARAH', a 300,000-dwt carrier to its fast-growing fleet. Developed by Hyundai Heavy Industries (HHI) in South Korea, 'MAHARAH' is Bahri's 38 th VLCC.
Built to the latest environmental and fuel-efficient technical requirements, 'MAHARAH' was handed over to Bahri during a shipment event held at HHI's Mokpo shipyard in South Jeolla District, South Korea. Bahri's Board Member, Ahmed Ali Al-Subaey, Hyundai Heavy Industries' President and CEO, M. K. Yoon, Bahri's Acting Chief Executive Officer, Ali Al-Harbi, Bahri Ship Administration's President, Per Pedersen, Bahri's Senior Vice President - Marketing, Wael Al-Sarhan, Bahri's Vice President - Commercial, Hisham Alnughaimish, and other senior officials from both companies went to the special occasion.
Ahmed Ali Al-Subaey, Board Member, Bahri, stated, "This is an extremely proud moment for all of us at Bahri in addition to for Saudi Arabia. The addition of 'MAHARAH' additionally reinforces our setting as the worlds biggest proprietor and operator of VLCCs and strengthens our management placement in the global transport and logistics industry. We celebrate this important turning point only months after approving distribution of our 37 th VLCC ' AMJAD' previously this year in February. In current times, fleet growth is crucial to countering low place market rates, and the timing of this shipment can not have been much better."
Ali Al-Harbi, Acting Chief Executive Officer, Bahri added, "The partnership between Bahri and Hyundai Heavy Industries spanning over a years has been extremely successful, with 26 vessels gotten and delivered to date and 8 more VLCCs presently on order, among which three will be delivered this year. With raised capacity and tonnage, we could remain to deliver first-rate transport remedies and value to our customers, investors and staff. Bahri is an organic Saudi brand name and an exceptional success story that further enhances the nation's setting on the world map."
M. K. Yoon, President and CEO of Hyundai Heavy Industries, stated, "Besides the commercial significance, our connection with Bahri is one that holds immense tactical relevance not only for our 2 companies yet additionally for our two countries. With over 30 ocean-freight vessels delivered or presently on order, and other substantial joint plans in the discussion or preparation phase, HHI and Bahri are readied to modify the course of the global delivery industry. The shipment of 'MAHARAH' is an additional turning point achievement for us."
Bahri Oil, one of Bahri's six business units, will certainly be in charge of the commercial procedure of 'MAHARAH'. Bahri Oil has numerous lasting contracts with excellent charterers, with quantities exceeding its had fleet capacity.
