Bahri completes five-ship newbuild program with delivery of new VLCC

Bahri completes five-ship newbuild program with delivery of new VLCC
Published: 10 May 2018 - 2:10 p.m.
By: Logistics Middle East Staff

Bahri has taken delivery of ‘Amad,’ from South Korea-based Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company, bringing the total number of VLCCs in Bahri’s fleet to 46 and vessels to 93.

Bahri accepted the delivery of ‘Amad’ its 46th Very Large Crude-oil Carrier (VLCC) at a ceremony at HSHI’s Mokpo shipyard in South Jeolla Province, South Korea.

The new vessel, which will be operated on a time-charter/spot basis, marks the completion of the industry leader’s three-year agreement signed with Hyundai Samco Heavy Industries in May 2015, to build five VLCCs and five more optional VLCCs, to fuel Bahri’s long-term expansion strategy.

With the capacity to transport 2.2 million barrels of crude oil, the 300,000-DWT carrier’s stands at 333 meters long with a beam of 60 meters, and a depth (from keel to main deck) of 30 ‎meters.

“Saudi Arabia is on the cusp of a number of major economic developments and milestones like the delivery of our 46th VLCC, ‘Amad,’ further strengthening our focus on playing an integral role in achieving the Kingdom’s Vision 2030 objectives,” said Eng. Abdullah Al-Dubaikhi, CEO of Bahri.

“A strong fleet of VLCCs allows us to further penetrate and capture the lion’s share of the market through strategic expansions in key geographies, which will, in turn, provide a significant boost to the Kingdom’s ongoing efforts to establish itself as a unique regional logistics gateway to three continents,” he added.

M. K. Yoon, president and CEO of Hyundai Samho Heavy Industries, said: “The conclusion of our agreement with Bahri represents a long-standing synergetic association between two global leaders dedicated to leveraging growth opportunities for the advancement of the maritime sector. We congratulate Bahri on the addition of their 46th VLCC, ‘Amad,’ and look forward to building on the success of our enduring business relationship to explore new opportunities of mutual interest in the future.”

‘Amad’ joins the four vessels Bahri received from HSHI earlier this year, following the five vessels the company received in 2017.

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