Saudi Arabian state shipowner Bahri has clinched a cooperation deal with domestic miner Saudi Arabian Mining Company (Ma'aden) that could see it charter vessels to transport ammonia gas.
The company will also provide bulkers for the domestic group, one of the fast-growing mining and metals operations in the world.
Bahri has nine panamax bulkers operated by its Bahri Dry Bulk arm, as well as 42 VLCCs, 33 chemical and product tankers, and six multipurposes.
The logistics deal was signed in the presence of Bahri chief executive Abdullah Aldubaikhi and Abdulaziz bin Askar Al-Harbi, chief executive of Ma'aden.
Putting pen to paper were Mohammed Bin Battal, president of Bahri Dry Bulk, and Anas Albassam, vice president of commercial and market development phosphates at the miner.
Domestic contract drive
The agreement comes as part of Bahri's ongoing efforts to strengthen its logistics sector ties, in service of the national economy, the shipowner said.
"Bahri and Ma'aden will explore cooperation across various fields, including chartering cargo ships to transport ammonia gas, dry transport needs and other areas the two companies will agree to collaborate on in the future," the company added.
Bahri has been contacted for further information.
Aldubaikhi said: "As a company committed to contributing to Saudi Arabia's maritime goals set out in Saudi Vision 2030, Bahri sees this agreement with Ma'aden as an essential step towards bolstering the Kingdom’s raw materials trade."
Two other contract wins
The deal follows two more signed with domestic organisations over the past two years.
The chief executive believes the partnerships will prove "most fruitful" in the near future.
In August 2021, Bahri clinched another contract to provide shipping services to a state agency.
The Riyadh-listed, government-backed shipowner said it signed a logistics services agreement with arms producer Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund.
The deal includes door-to-door sea, air and land transport, as well as freight services to the various business units and affiliated companies of SAMI.
The contract followed one worth SAR 300m ($80m) signed in November 2020 with the country's Presidency of State Security (PSS).
The PSS is a security body created in 2017 by combining the counterterrorism and domestic intelligence services under one roof.
