Saudi's Bahri Signs $1 Billion Deal for Nine Oil Tankers
OIL & GAS

Saudi's Bahri Signs $1 Billion Deal for Nine Oil Tankers

Saudi Arabia's Bahri, the National Shipping Company, has entered into a significant deal worth nearly $1 billion to acquire nine new oil tankers. This expansion is part of Bahri's strategy to strengthen its position as a global leader in maritime logistics and shipping.

The contract was signed with an undisclosed shipbuilding company, marking a major step for Bahri in expanding its oil transportation capabilities. The new tankers are expected to enhance the company's ability to transport crude oil efficiently across international markets, meeting the growing global demand for energy.

Bahri's CEO stated that the acquisition aligns with the company's vision of becoming a global leader in maritime transport. The new tankers, equipped with advanced technology, will improve the company's operational efficiency and sustainability, reducing the environmental impact of its fleet.

The oil tankers are expected to be delivered in phases over the next few years, with the first expected to be operational by mid-2025. This expansion not only reinforces Bahri's fleet but also strengthens Saudi Arabia's position as a dominant player in the global oil market.

With this deal, Bahri aims to cater to the rising demand for oil transportation, particularly from the Middle East to Asia and other parts of the world, further solidifying its status as a key player in the international shipping industry.

Saudi Arabia's Bahri, the National Shipping Company, has entered into a significant deal worth nearly $1 billion to acquire nine new oil tankers. This expansion is part of Bahri's strategy to strengthen its position as a global leader in maritime logistics and shipping. The contract was signed with an undisclosed shipbuilding company, marking a major step for Bahri in expanding its oil transportation capabilities. The new tankers are expected to enhance the company's ability to transport crude oil efficiently across international markets, meeting the growing global demand for energy. Bahri's CEO stated that the acquisition aligns with the company's vision of becoming a global leader in maritime transport. The new tankers, equipped with advanced technology, will improve the company's operational efficiency and sustainability, reducing the environmental impact of its fleet. The oil tankers are expected to be delivered in phases over the next few years, with the first expected to be operational by mid-2025. This expansion not only reinforces Bahri's fleet but also strengthens Saudi Arabia's position as a dominant player in the global oil market. With this deal, Bahri aims to cater to the rising demand for oil transportation, particularly from the Middle East to Asia and other parts of the world, further solidifying its status as a key player in the international shipping industry.

Next Story
Equipment

TIL Limited Returns to bauma CONEXPO After 8 Years

TIL Limited, a cornerstone in India’s material handling and infrastructure equipment manufacturing sector, made a triumphant return to Bauma ConExpo India 2024 under the Gainwell Group banner, marking a significant milestone in its transformation journey. The company's participation at Asia's premier construction equipment exhibition, held from December 11-14, 2024, at India Expo Centre, Greater Noida, showcased its revitalised market presence and successful integration of global partnerships with local manufacturing excellence. At its expansive 800-square-meter display area (Stall No. OG-5..

Next Story
Building Material

NMC Begins Rs 73.7 Million Road Concreting Project

Nashik Municipal Corporation (NMC) has initiated plans to concrete a 1-kilometer stretch of road connecting Rajiv Gandhi Bhavan, NMC's headquarters, and the Golf Club ground signal near Veer Savarkar swimming pool. The project, estimated at Rs 73.7 million, aims to address the deteriorated road conditions caused by the monsoon. The stretch, which includes the mayor's residence, Ramayan, has been plagued by potholes, prompting residents to demand urgent action. The road's condition worsened after the Nashik Municipal Smart City Development Corporation Ltd (NMSCDCL) installed water pipelines las..

Next Story
Infrastructure Transport

Pune Ring Road: Collector Sets December Deadline for Final Acquisition

Pune District Collector Suhas Diwase has directed officials to complete the final phase of land acquisition for the Pune Ring Road by the end of December, enabling construction to begin in January 2025. The process involves acquiring 207 hectares across eastern and western phases of the project, with land acquisition spanning three villages in each phase. For the eastern phase, 143 hectares need to be acquired, while 64 hectares are required for the western phase. Land acquisition officer reports confirm that compensation for the land has already been announced, facilitating timely completion...

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000