Bahri Celebrates Another key Milestone with the Delivery of its 46th VLCC, Amad

Business

Bahri Celebrates Another key Milestone with the Delivery of its 46th VLCC, Amad

Celebrating the addition of its 46 th Huge Crude-oil Provider (VLCC), Bahri, a global leader in logistics and transport, today invited 'Amad,' from South Korea-based Hyundai Samho Heavy Industries (HSHI), the world's largest shipbuilding company, bringing the overall variety of VLCCs in Bahri's fleet to 46 and vessels to 93.

Bahri accepted the distribution of 'Amad' at a ceremony held at HSHI's Mokpo shipyard in South Jeolla District, South Korea, on 9 Could 2018, in the existence of 4 board participants, namely Mr. Ahmed Ali Al-Subaey, Mr. Ibrahim Al-Buainain, Mr. Khalid Mohammed Al-Araifi, and Mr. Khalifa Abdullatif Al-Mulhim, in addition to Bahri's CEO Eng. Abdullah Al-Dubaikhi, M. K. Yoon, President and CEO of Hyundai Samho Heavy Industries, among others.

The new vessel, which will be operated a time-charter/spot basis, notes the completion of the industry leader's three-year arrangement authorized with HSHI in May 2015, to build five VLCCs and five more optional VLCCs, to sustain Bahri's lasting growth method.

With the capacity to move 2.2 million barrels of petroleum, the 300,000-DWT carrier's stands at 333 meters long with a beam of light of 60 meters, and a depth (from keel to main deck) of 30 meters. The speed of Amad is 14.4 knots
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"Saudi Arabia gets on the cusp of a variety of major financial growths and landmarks like the delivery of our 46 th VLCC, 'Amad,' even more strengthening our focus on playing an indispensable duty in accomplishing the Kingdom's Vision 2030 purposes. A solid fleet of VLCCs enables us to better penetrate and capture the lion's share of the marketplace through calculated growths in key geographies, which will, consequently, provide a considerable boost to the Kingdom's ongoing initiatives to develop itself as a unique regional logistics portal to three continents," claimed Eng. Abdullah Al-Dubaikhi, Chief Executive Officer of Bahri.

" A 46-strong VLCC fleet places Bahri in an outstanding placement to go after bigger development chances as part of our long-lasting growth method. By additional solidifying our management qualifications as the world's largest owner and driver of VLCCs, the effectiveness of our fleet allows us to increase our business prospects in the oil vessel market, satisfy the growing need for petroleum transport, and boost our service using to provide better efficiency and value to our stakeholders," added Al-Dubaikhi.

M. K. Yoon, President and CEO of Hyundai Samho Heavy Industries, said: "The conclusion of our arrangement with Bahri stands for an enduring synergetic association between two global leaders dedicated to leveraging growth chances for the innovation of the maritime sector. We praise Bahri on the enhancement of their 46 th VLCC, 'Amad,' and anticipate improving the success of our enduring business partnership to check out new possibilities of mutual interest in the future.".

' Amad' joins the four vessels Bahri got from HSHI earlier this year, namely, 'Kassab,' 'Lawhah,' 'Qamran,' and 'Khurais,' adhering to the 5 vessels the company got in 2017, including 'Amjad,' 'Maharah,' 'Aslaf,' 'Rimthan,' and 'Shaden.'.