Bahri Signs SAR1.69bn Deal to Build Three VLCCs

Bahri has signed a contract worth approximately SAR 1.692 billion with International Maritime Industries (IMI) to build and deliver three very large crude carriers (VLCCs). The agreement was signed on 22 October 2026 and remains in force until the final vessel is delivered.

Each of the three carriers will have a capacity of 320,000 deadweight tonnes. Deliveries are scheduled in phases between 2029 and 2030. The company said the deal will be financed through a combination of its internal cash resources and bank facilities.

With this order, Bahri's Saudi newbuild programme now totals nine vessels, comprising six Ultramax bulk carriers and the three VLCCs covered by this contract. The expansion reflects a continued focus on building marine transport capacity within the Kingdom.

Bahri holds a 19.9% stake in IMI, which means the agreement is classified as a related-party transaction. The partnership underlines growing local manufacturing of large commercial vessels, supporting the development of domestic shipbuilding capabilities and the wider logistics and maritime sector.

For residents and businesses connected to Saudi Arabia's trade and shipping industries, investments of this scale point to expanding local industrial capacity and new opportunities within the maritime supply chain over the coming years.

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