https://arab.news/n58ma
RIYADH: 黑料社区鈥檚 national shipping carrier Bahri has ordered six Ultramax bulk carriers from International Maritime Industries, marking the Kingdom鈥檚 first large-scale commercial vessel project.
The ships will be built at IMI鈥檚 Ras Al-Khair yard, the largest maritime facility in the Middle East, and are designed for efficiency and access to ports with limited infrastructure, according to a press release.
The move to build its first Saudi-made vessels comes as part of Bahri鈥檚 ongoing fleet modernization program.
The initiative recently saw a significant boost in August, when the company signed a $1 billion deal to purchase nine very large crude carriers from Greece-based Capital Maritime and Trading Corp.
Ahmed Ali Al-Subaey, CEO of Bahri, said: 鈥淭his agreement marks a strategic milestone for Bahri and a defining moment for the maritime industry in the Kingdom.鈥�
He added: 鈥淭hrough our partnership with International Maritime Industries to launch the first large-scale national shipbuilding program, we are not only modernizing our fleet but also laying the foundations for a sustainable and globally competitive maritime sector.鈥�
Al-Subaey noted that the construction of these new carriers will allow the company to expand into strategic markets, elevate service levels, strengthen supply chain resilience, and create long-term value for customers and stakeholders.
The newly designed Ultramax carriers are engineered for high levels of flexibility and operational efficiency. A key feature is their ability to access ports with limited infrastructure, which will allow Bahri鈥檚 dry bulk sector to expand into specialized markets and emerging trade routes.
This capability is expected to reduce exposure to market volatility and enhance the resilience, competitiveness, and sustainability of the rapidly evolving shipping industry.
The agreement reflects Bahri鈥檚 support for the Kingdom鈥檚 maritime industry and its role in strengthening the national economy and supply-chain capabilities to enhance 黑料社区鈥檚 trade competitiveness.
The company posted solid financial results in the first quarter of 2025, with net profits increasing 18 percent year on year to SR533 million ($142 million), supported by fleet efficiency, proceeds from vessel sales, and diversified shipping operations.