Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) has signed a letter of intent (LOI) with Saudi Iron and Steel Company (Hadeed) to explore potential cooperation in maritime transport, according to a press release.
While meeting Hadeed’s Iron Ore shipping needs, the collaboration aims to develop specialized shipping solutions and support industrial integration.
Bahri and Hadeed plan to discuss mechanisms for utilizing the listed company’s capabilities to meet Hadeed’s maritime transport requirements while exploring potential joint opportunities between the two parties.
The CEO of Bahri, Ahmed Al Subaey, said: “This collaboration marks an important step toward enhancing the national maritime transport ecosystem.”
Al Subaey noted: “At Bahri, we remain committed to supporting supply chains and providing reliable and resilient shipping solutions that enhance operational efficiency for our partners.”
Moreover, the two sides will cooperate for potential development and construction of new vessels tailored to Hadeed’s operational and technical needs within Saudi Arabia.
From his part, the CEO of Hadeed, Abdulqader Al Mubarak, said: “Hadeed is continuously working on developing its operational and logistics ecosystem. This collaboration with Bahri represents a supportive step toward securing specialized maritime transport solutions that meet our operational needs and enhance the efficiency of the industrial sector.”
It is worth noting that Bahri, which delivered a net profit worth SAR 1.45 billion in the first nine months (9M) of 2025, serves as Saudi Arabia’s national maritime carrier with a global logistics footprint, while Hadeed is one of the leading national industrial companies in the Saudi steel and iron sector.
