Introduction
Bahri, the National Shipping Company of Saudi Arabia, is making bold moves to strengthen its position in the global maritime industry. With a clear focus on dry bulk growth, Bahri is investing heavily in fleet expansion and operational capabilities to meet rising global demand for commodities like grains, fertilizers, and iron ore.
Why Dry Bulk Matters for Bahri
Dry bulk shipping plays a critical role in global trade, transporting essential goods such as:
- Grains and food products for food security
- Fertilizers and coal for industrial needs
- Iron ore for steel production
Currently, dry bulk contributes around 10% of Bahri’s revenue, but the company sees this segment as a strategic pillar for future growth.
Fleet Expansion: Six New Ultramax Vessels
Bahri Dry Bulk recently signed a SAR 762 million agreement with International Maritime Industries (IMI) to build six Ultramax dry bulk carriers. These vessels will:
- Increase Bahri’s dry bulk fleet by 50%
- Enhance flexibility with onboard cranes, allowing access to ports with limited infrastructure
- Support Saudi Arabia’s Vision 2030 by localizing shipbuilding at IMI’s Ras Al-Khair yard
Bahri’s Six New Ultramax Vessels: Specs and Strategic Advantages
Bahri’s latest investment in six Ultramax dry bulk carriers marks a significant milestone in its growth strategy. These vessels are designed to deliver operational flexibility, efficiency, and market reach, making them a game-changer for the Saudi shipping giant.
Key Specifications
- Type: Geared Ultramax Dry Bulk Carrier
- Deadweight Tonnage (DWT): 62,823 tons per vessel
- Special Features: Equipped with onboard cranes, enabling loading and unloading at ports with limited infrastructure
- Purpose: Ideal for transporting grains, fertilizers, coal, and iron ore across global trade routes
Construction & Delivery
- Shipyard: International Maritime Industries (IMI), Ras Al-Khair, Saudi Arabia
- Delivery Timeline: 2028–2029 in phased batches
- Strategic Impact: Expands Bahri’s dry bulk fleet by 50%, supporting Saudi Arabia’s Vision 2030 goals for industrial localization and supply chain resilience
Financial Details
- Total Investment: SAR 762 million (approx. $203 million)
- Cost per Vessel: Around $33.83 million
- Funding: A Combination of internal cash and bank credit facilities
Vision 2030 Alignment
Bahri’s dry bulk expansion aligns perfectly with Saudi Arabia’s Vision 2030 goals:
- Industrial diversification through local shipbuilding
- Supply chain localization to reduce dependency on foreign markets
- Strengthening food security by ensuring the reliable transport of agricultural commodities
Financial Performance and Market Outlook
Bahri reported an 18% net profit growth in Q1 2025, driven by resilience in dry bulk and chemicals segments. With 100 owned vessels across all divisions, Bahri is well-positioned to become a global leader in dry bulk shipping.
Key Takeaways
- Bahri is investing in fleet growth and local shipbuilding
- Dry bulk is a strategic segment for food security and industrial exports
- Expansion supports Vision 2030 and global trade ambitions
About Bahri: History and Global Presence
Founded in 1978 by Royal Decree, Bahri—formerly known as the National Shipping Company of Saudi Arabia—is the Kingdom’s national shipping carrier and a global leader in maritime logistics. Headquartered in Riyadh, Bahri operates across five core business units: Oil, Chemicals, Logistics, Dry Bulk, and Ship Management.
With a fleet of nearly 100 modern vessels, including Very Large Crude Carriers (VLCCs), chemical tankers, multipurpose ships, and dry bulk carriers, Bahri is one of the largest VLCC operators in the world and the leading chemical tanker owner in the Middle East. The company serves over 150 ports worldwide, connecting markets and enabling global trade.
Bahri plays a pivotal role in Saudi Vision 2030, aiming to transform the Kingdom into a strategic logistics hub across three continents. Its services include transporting crude oil, chemicals, and dry bulk cargo, as well as providing advanced ship management solutions.
Ownership is split among the Public Investment Fund (22.55%), Saudi Aramco Development Co. (20%), and public shareholders via Tadawul. With over 4,000 employees, Bahri continues to innovate and expand, reinforcing its position as a cornerstone of Saudi Arabia’s maritime and logistics sector.
The Maritime-Hub Editorial Team
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official policy or position of Maritime-Hub. Readers are advised to research this information before making decisions based on it.
