Saudi Arabian state shipowner Bahri has announced the signing of a five-year framework agreement worth SAR 300m ($80m) with the country's Presidency of State Security (PSS).

Under the terms of the deal, Bahri said it will provide "various internal and external sea, air, and land transport and freight services".

"Bahri will serve as the official carrier for the Presidency of State Security and all its divisions," it added.

The PSS is a security body created in 2017 by combining the counter-terrorism and domestic intelligence services under one roof.

The organisation is concerned with all matters related to state security, and is overseen by the king.

Departments annexed to the PSS include general investigations, the Special Security Force and the Special Emergency Force.

Details unclear

A Bahri representative could not provie further details.

Bahri owns tankers, bulkers and container ro-ro ships.

The agreement was signed this week by PSS head Abdulaziz Al-Howairini and Bahri chairman Mohammed Al-Sarhan.

Al-Howairini thanked King Salman bin Abdulaziz Al Saud for agreeing to sign the framework agreement with Bahri.

The shipowner added that he also praised Bahri's leading role in serving different government and private sectors.

Al-Sarhan said: "We would like to extend our sincere thanks and gratitude to the Presidency of State Security for choosing Bahri exclusively and giving us the opportunity to deliver our services to all PSS divisions.

Trust confirmed

"This confirms the trust that Bahri has earned in the fields of logistics and transportation, and this agreement also reflects our commitment to strategic cooperation with different government institutions and agencies."

Bahri last week announced a 300% rise in profit for the first three quarters of 2020.

The company called the SAR 1.49bn ($336m) net result "remarkable" after crude rates soared in the second quarter.