Riyadh – Mubasher: Bahri Chemicals and Bahri Logistics, two business subsidiaries of the listed National Shipping Company of Saudi Arabia (Bahri), recently signed memoranda of understanding (MoUs) with Saudi Aramco Base Oil Company (Luberef) to establish and boost cooperation between the involved entities.
The two Bahri business units will offer sustainable and efficient solutions to meet Luberef’s logistics and transportation requirements, according to a press release.
Bahri Chemicals and Luberef will set up a mutually beneficial shipping framework agreement, which is expected to reflect positively on Saudi Arabia’s economy as well. It will further offer logistics solutions and services to Luberef, which will provide details of available shipments that align with vessel dates at load ports.
Acting President of Bahri Chemicals, Faisal Al Husseini, said: “We look forward to working closely together to provide world-class logistics services that will drive greater efficiency and ensure smoother operations for our distinguished partners.”
Bahri Chemicals currently manages a fleet of 59 vessels consisting of 36 owned vessels that provide maritime transportation to a global customer base across the industries of chemicals, clean petroleum products, and vegetable oils.
President of Bahri Logistics, Soror Basaloum, noted: “The products and services stipulated in the agreement include inland transportation within Saudi Arabia from Luberef plants to local customers for base oil main products; ISO tank container and Flexi-bag logistics solutions for Luberef’s local and export customers; storage hubs around the globe; and tanker storage solution within the local market.”
President and CEO of Lubere, Tareq Alnuaim, said: “The services provided by the two Bahri companies align perfectly with our commitment to delivering greater efficiency and sustainability throughout our operations and we look forward to a long and fruitful partnership with both companies.”
Meanwhile, Bahri Logistics owns and operates a fleet of six multipurpose vessels on a regular liner schedule.
During the first nine months (9M) of 2022, Bahri logged net profits after Zakat and tax worth SAR 462.79 million.
