Saudi Arabia’s Bahri Expands Fleet with Nine New Vessels

The Kingdom of Saudi Arabia's National Shipping Company, Bahri, is expanding its fleet with recent $1 billion deal for nine Very Large Crude Carriers (VLCCs) in August 2024. Bahri is purchasing the tankers from Capital Marine and Trading Cooperation as part of a modernization drive. Bahri aims to phase out older vessels as it prioritizes safety, sustainability, and logistical fluidity. These efforts are in line with the Kingdom’s commitment to achieving its Vision 2030 goals, which envision Saudi Arabia as a role as a global logistics hub. The Kingdom is striving to achieve these goals by consistently enhancing its maritime sector.

Bahri, Saudi Arabia’s National Shipping Company possesses the largest VLCC fleet in the world, with over 40 VLCCs, each with a capacity of 2.2 million barrels. The purchase of these new vessels reinforces Bahri’s position as a leading VLCC owner globally. The company is constantly striving to maintain its global competitiveness. The new ships, which will be delivered before the end of the first quarter of 2025, feature advanced technologies such as eco-scrubbers and reduced operating expenses due to cost-efficient designs. These ships will not only enhance Bahri’s competitiveness but also align with the Kingdom’s broader aims to capitalise on its natural strategic location supporting global logistics.

As a Council Member of the International Maritime Organization, the Kingdom is actively working to grow the maritime sector in terms of economic profitability and overall sustainability. The continuous development and application of new technologies is a key aspect of this effort. Saudi Arabia has prioritized technological advancement within the maritime sector, focusing on developing fully autonomous ports and more economically sustainable fuel sources. This will streamline supply chains and ensure that the transportation of goods is more efficient, cost-effective, and environmentally friendly.

Bahri's recent acquisition of nine new VLCCs aligns with Saudi Arabia's Vision 2030 goals and further demonstrates its leadership on a global scale. By modernizing its fleet with state-of-the-art technology and focusing on sustainability and efficiency, Bahri not only reinforces its position as a global leader in the shipping industry but also supports the Kingdom's broader ambitions for economic growth and environmental stewardship.