Bahri signs US$453.3M deal with IMI for three VLCCs

SAUDI ARABIA – Bahri and International Maritime Industries (IMI) have signed a SAR1.7 billion (US$453.33 million) contract to build three Very Large Crude Carriers (VLCCs) at IMI’s facility in Saudi Arabia.

Bahri, a global leader in transport and logistics, and IMI, the largest integrated maritime facility in the MENA region, signed the agreement at the Saudi Maritime & Logistics Congress

The three vessels are VLCCs, ships built to move crude oil in bulk on long-haul routes. Each will carry advanced energy-efficiency technologies designed to improve operating efficiency.

Each vessel will have a deadweight capacity of 320,000 tonnes (DWT) and delivery is scheduled to begin no earlier than 2029. It will be delivered in phases between 2029 and 2030.

The contract supports Bahri’s strategy to modernize its fleet and expand its operational capabilities to meet the evolving demands of global energy markets. Adding more modern, efficient vessels enables the company to respond to sector shifts while strengthening its long-term position.

With this deal, the total number of vessels Bahri has contracted to build in Saudi Arabia since the beginning of the year has risen to nine, comprising six Ultramax bulk carriers and three VLCCs.

For Saudi Arabia’s maritime industry, the contract provides firm demand for IMI, the region’s largest integrated maritime facility, and advances the localization of shipbuilding capabilities in line with the Kingdom’s Vision objectives.

It also deepens collaboration between a major shipowner and a domestic yard, supporting the development of the country’s maritime supply chain.

Commenting on the agreement, Bahri CEO Eng. Ahmed Alsubaey said: “Fleet modernisation is a key pillar of our long-term strategy. This contract enables us to strengthen our capabilities with modern, more efficient vessels, while expanding our collaboration with IMI and supporting the development of Saudi Arabia’s maritime supply chain.”

IMI CEO Eng. Abdullah Al-Ghamdi said the milestone reflects the continued advancement of Saudi Arabia’s maritime industry.

“We look forward to supporting Bahri’s future requirements and contributing to the localization of shipbuilding capabilities in line with the Kingdom’s Vision objectives,” he added.

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