top of page

Bahri's Bold Move: $1 Billion Acquisition of 9 VLCCs to Modernise Fleet and Strengthen Global Position

Writer's picture: Team MarineXTeam MarineX

August 21, 2024, In a significant stride toward enhancing its operational capacity and sustainability efforts, The National Shipping Company of Saudi Arabia (Bahri) has entered into a pivotal purchase agreement with Capital Maritime and Trading Corporation.


The agreement, finalised on August 19, 2024, marks a milestone in Bahri’s ongoing fleet modernization initiative, with the acquisition of nine Very Large Crude Carriers (VLCCs) for an approximate total of SAR 3.75 billion ($1 billion).

The Strategic Acquisition: A Closer Look


Bahri's decision to invest in these nine state-of-the-art VLCCs is part of a broader strategy to ensure the company remains at the forefront of the global maritime industry. These vessels are not just additions to Bahri's fleet; they represent a leap forward in terms of technology, efficiency, and environmental responsibility.

The majority of the acquired VLCCs are of South Korean origin, known for their robust build and advanced engineering. With an average age of just 5.9 years, these vessels are relatively new and boast an average deadweight tonnage (DWT) of approximately 311,500.

This significant capacity, combined with their modern scrubber-fitted designs, positions them as some of the most efficient and environmentally friendly carriers in the market.

Want to read more?

Subscribe to dmetclub.com to keep reading this exclusive post.

bottom of page