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Bahri, logistics and transportation provider, has announced that ‘AMJAD’, a 300,000 DWT Very Large Crude Carrier (VLCC) built by Hyundai Heavy Industries (HHI) in South Korea, has become the latest addition to its growing fleet of 84 vessels
Bahri took delivery of the VLCC, built to the latest environmental and fuel-efficient technical specifications, in a ceremony held at HHI’s Mokpo shipyard in South Jeolla Province, South Korea.
Ibrahim Al-Omar, Bahri CEO, said, “The addition of AMJAD to our fleet is a milestone achievement as it not only cements our position as a global leader in oil transportation but also marks the beginning of our journey to becoming the world’s largest owner and operator of VLCCs. This increase in fleet will provide us with added operational flexibility, facilitate business expansion and help us capitalize on the continued demand for crude oil.
“With a bigger and newer fleet of VLCCs, we can continue to provide our customers with world-class transportation solutions and value-added customer service,” added Al-Omar.
This relationship was further accentuated with the joint development agreement (JDA) signed with Saudi Aramco and Lamprell Energy Ltd. to build a US$5bn maritime shipyard within the King Salman Global Maritime Industries Complex in Saudi Arabia, which will provide engineering, manufacturing and repair services for offshore rigs, commercial vessels and offshore service vessels and is expected to be fully operational by the end of 2022.
MK Yoon, president and CEO of Hyundai Heavy Industries, added, “With nearly a third of Bahri’s current fleet built by HHI and nine more VLCCs being built, and a multi-billion-dollar maritime shipyard being planned in Saudi Arabia in the coming years, our relationship with Bahri is set for the long haul.”
Bahri Oil, one of Bahri’s six business units, will be responsible for the commercial operation of AMJAD. Bahri Oil has several long-term contracts with first-class charterers, with volumes exceeding its owned fleet capacity.