Global shipping giant Bahri and International Maritime Industries (IMI) have officially signed a landmark SAR1.7 billion (US$453.33 million) contract to construct three new Very Large Crude Carriers (VLCCs).
Signed at the Saudi Maritime & Logistics Congress, the agreement solidifies the partnership between Bahri, a global leader in transport and logistics, and IMI, the largest integrated maritime facility in the MENA region. The high-value vessels will be built directly at IMI’s facility in Saudi Arabia, marking a massive milestone for domestic industrial production.
Specifications and Delivery Phasing for the New Supertankers
The three mega-vessels are specialized VLCCs built specifically to move crude oil in bulk on long-haul international trade routes. The core engineering and delivery parameters include:
- Deadweight Capacity: Each vessel features an immense deadweight capacity of 320,000 tonnes (DWT).
- Energy-Efficiency Tech: Each hull will integrate advanced energy-efficiency technologies designed to drastically improve operational efficiency and reduce fuel emissions.
- Delivery Timeline: Phase-in delivery is scheduled to begin no earlier than 2029, with all three vessels fully handed over in phases between 2029 and 2030.
Boosting Bahri’s Fleet Modernization Strategy
The contract directly supports Bahri’s long-term corporate strategy to modernize its operational fleet and scale up capacities across global energy markets. Adding modern, eco-efficient hulls allows the logistics leader to absorb ongoing sector shifts while strengthening its macroeconomic position.
With this latest deal, the total number of vessels Bahri has contracted to build inside Saudi Arabia since the beginning of the year has risen to nine, comprising:
- Six (6) Ultramax bulk carriers
- Three (3) VLCCs
Accelerating Saudi Vision 2030 and Maritime Supply Chains
For Saudi Arabia’s local maritime industry, the massive transaction provides firm commercial demand for IMI. Furthermore, it heavily advances the localization of shipbuilding capabilities in strict alignment with the Kingdom’s Vision objectives, deepening collaboration between a major domestic shipowner and a domestic shipyard.
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.
