Bahri reinforces global leadership in oil transportation and logistics with a 40-strong VLCC fleet

RIYADH: Bahri, a global leader in transportation and logistics, has reached a new milestone by accepting delivery of ‘Rimthan,’ a 300,000-dwt carrier built by Hyundai Samho Heavy Industries (HSHI) in South Korea. The addition of ‘Rimthan’ to its fast-growing fleet of multipurpose vessels, reinforces Bahri’s position as the world’s largest owner and operator of Very Large Crude-oil Carriers (VLCCs) with a 40-strong fleet.

The new vessel, built to the latest environmental and fuel-efficient technical specifications, was handed over to Bahri during a delivery ceremony held at HSHI’s Mokpo shipyard in South Jeolla Province, South Korea. Senior Bahri and HSHI officials who attended the ceremony included Mr. Saleh Al-Debasi, Bahri Board Member, Dr. Abdulmalik Al-Hogail, Bahri Board Member, Mr. M. K. Yoon, President and CEO of HSHI, Mr. Hisham Al-Nughaimish, Acting President of Bahri Oil, among others.

‘Rimthan’ is the fourth VLCC to join the Bahri fleet this year, following the delivery of ‘Amjad,’ ‘Maharah,’ and, more recently, ‘Aslaf.’

Saleh Al-Debasi, Board Member, Bahri, said, “We are very proud to have become the first and largest transportation and logistics company in the world to have a 40-strong VLCC fleet. Rimthan is the fourth VLCC that Bahri has received from HHI Group this year with another six vessels on order and to be delivered over the next year and a half. Bahri is proud to be one of the first companies to contribute to the realization of the transportation and logistics goals set forth in Saudi Vision 2030, and our ongoing fleet expansion will allow us to increase our market share in crude oil transportation while boosting our ability to provide our customers with world-class transportation solutions and value-added customer service and strengthening the Kingdom’s standing as a key player in the global shipping and logistics industry.”

“The addition of ‘Rimthan’ is yet another step toward strengthening our leadership in the global oil transportation industry,” said Ali Al-Harbi, Acting CEO, Bahri. “Bahri’s partnership with HHI Group has been instrumental in enhancing our fleet competitiveness, operational efficiency and flexibility, helping us to achieve a high level of customer satisfaction, and with six more VLCCs currently on order, we look forward to further building on our alliance with HHI Group as we continue our pursuit of global excellence.”

K. Yoon, President and CEO of Hyundai Samho Heavy Industries, said: “HHI Group and Bahri have a long-standing relationship that dates several years and involves multiple collaborations. As key national companies, we are fully committed to playing a significant role in achieving our countries’ vision and global agenda. Bahri provides us with the opportunity to contribute to the success of Saudi Arabia.”

Yoon added: “As the world’s largest shipbuilding company, HHI Group is proud of this association, and we look forward to further strengthening ties with Bahri and supporting the growing demand for intercontinental and intra-regional transportation fueled by a rise in global trade and investments.”

Bahri Oil, one of Bahri’s six business units, will be responsible for the commercial operation of ‘Rimthan.’ Bahri is set to further expand its oil tanker fleet with the addition of ‘Shaden,’ its 41^st VLCC, towards the end of October 2017.