Bahri adds new dry-bulk carrier ‘Sara’ to fleet

The National Shipping Company of Saudi Arabia (Bahri), a global leader in logistics and transportation, received the new dry-bulk carrier ‘Sara' from Hyundai Vietnam Shipbuilding (HVS), a subsidiary of Hyundai Mipo Dockyard Co. Ltd. (HMD), according to a company statement.

The new Kamsarmax-class vessel is the first ship received as part of the agreement signed between Bahri Dry Bulk and South Korea’s HMD in August 2017 to build and deliver four new dry-bulk carriers by 2020.

The new vessel increases the company’s fleet of dry-bulk carriers to 6 ships in line with its efforts to expand its marine capabilities and maintain its position as a leading dry-bulk carrier both regionally and globally.

The new carrier will serve the growing demand in Saudi Arabia for imports of basic grains, such as wheat, barley, corn, and other dry-bulk cargoes.

“This new vessel represents an important addition to our fleet, and for Bahri Dry Bulk in particular, as it reinforces our position as the foremost dry-bulk logistics provider in the region and beyond. The delivery comes against the backdrop of the global COVID-19 pandemic, underlining our commitment to expanding our business and upgrading our services," stated Chief Executive Officer Abdullah Aldubaikhi.

In 2017, Bahri Dry Bulk Co., which is 60%-owned by Bahri signed contracts worth $120 million with Hyundai Heavy Industries (HHI) to build four bulk carriers for Bahri Dry Bulk, to be delivered in H1 2020, data compiled by Argaam showed.