Saudi shipowner Bahri and shipbuilder Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU) on cooperation in big data and technical innovation.
The National Shipping Company of Saudi Arabia (Bahri) saw its first quarter net profit fall by 38% in the first quarter of 2017 hit by lower spot rates.
Bahri Dry Bulk Company (BDB), a subsidiary of the Bahri Group, and Koninklijke Bunge have formed a joint venture to establish an ocean freight supplier for dry bulk import and export flows in the Middle East.