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Bahri orders 10 chemical tankers for $410m from HMD

Photo: Pixabay signing2pixabay.jpg
Bahri has inked a $410m agreement with Hyundai Mipo Dockyard (HMD) for 10 chemical tanker newbuildings.

The Saudi shipowner has ordered ten 49,999 dwt MR chemical tankers from HMD, part of the Hyundai Heavy Industries (HHI) group.

The tankers are scheduled for delivery from the first quarter of 2022 and the order is valued at $410m in total.

The agreement was signed recently at a virtual ceremony, between Abdullah Aldubaikhi, ceo of Bahri, and Seung-Yong Park, coo and senior executive vice president of HHI.

“The new agreement with HMD for the building of 10 high-spec chemical tankers represents a major step forward in our next phase of growth and further strengthens our leading position in the global maritime industry. With the newbuilds entering our fleet over the next two years, we will be further equipped to cater to the varying needs of our customers around the world,” Abdullah Aldubaikhi said.

Park from HHI commented: “These 10 MR tankers will bring the tally of various types of vessels that we built for Bahri to 61. We are committed to ensuring that our long-standing partner receives high-quality and eco-friendly vessels this time as well, and sincerely hope this project further strengthens our concrete relationship with one of the most renowned shipping companies.”

Bahri owns and operates a total of 87 vessels, including 41 VLCCs, 34 chemical and product tankers, 6 multipurpose ro-ro vessels, and 6 dry-bulk carriers, in addition to four other carriers on order.