Bahri Chemicals and Luberef are to create a shipping framework agreement for domestic and international consignments. “Bahri Logistics will provide solutions and services to Luberef, by providing details of available shipments that align with vessel dates at load ports,” Bahri said.
Base oils are used to manufacture lubricating greases, motor oil and metal processing fluids. Luberef is a global supplier of base oils and claims to be the only virgin base oil producer in Saudi Arabia. The company services Saudi Arabia and India in addition to various markets in the Middle East and North Africa. It exports products to Asia, the Americas, and Europe.
“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 solutions for the local market,” said Eng. Soror Basaloum, President, Bahri Logistics.
Today , under the joint ownership of Saudi Aramco (70%) and Jadwa Industrial Investment Company (30%), Luberef claims to be one of the world’s leading suppliers of high-quality base oils. Founded in 1976 in Jeddah, it was originally established as a joint venture between Saudi lubricants and automotive services concern, Petromin, and Mobil.
“By teaming up to develop a mutually beneficial shipping framework agreement, we aim to not only strengthen the spirit of cooperation between our companies but also create a significant contribution to the Kingdom’s economy,” said Faisal Al Husseini, acting president, Bahri Chemicals.
Bahri Chemicals manages 59 vessels, of which 36 are owned, including 31 IMO2 medium range (MR) and five product tankers, 14 time-charter vessels, including one long-range (LR), nine MRs, as well as four Japanese-yard-built 19,000 metric-tonne vessels. It also operates nine vessels for SABIC. It provides transportation across the chemicals, clean petroleum products, and vegetable oils industries.
Bahri Logistics claims to be one of the top 10 break-bulk carriers in the world. It owns and operates a fleet of six multipurpose vessels on a regular liner schedule.
Bahri, formerly known as the National Shipping Company of Saudi Arabia, is owned 22% by Saudi sovereign wealth fund, the Public Investment Fund, and 20% by Saudi Aramco Development Company, with the rest held by retail investors.
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