Bahri, a global leader in transportation and logistics, and the International Marine Industries Company (IMI), the largest integrated marine facility in the MENA region, signed a contract worth 1.692 billion Saudi Riyals (SAR) for the construction of three Very Large Crude Carriers (VLCCs) at IMI's facilities in Saudi Arabia. This agreement was made on the sidelines of the Saudi Maritime and Logistics Congress.
Contract Details and Specifications of the Tankers
According to this contract, IMI will construct three VLCCs with a deadweight capacity of 320,000 tons (DWT). These tankers will be equipped with advanced energy-saving technologies, and their delivery is scheduled to take place in phases between 2029 and 2030.
This contract is part of Bahri's strategy to modernize its fleet and expand operational capabilities to meet the changing needs of global energy markets. With the signing of this contract, the total number of tankers that Bahri has contracted for construction in Saudi Arabia since the beginning of this year increases to nine, including six Ultramax tankers and three VLCCs.
Bahri's Role in the Maritime Industry and Its Impact on the Saudi Economy
Engineer Ahmed Al-Subaie, CEO of Bahri, stated regarding this contract: “Fleet modernization is one of the key pillars of our long-term strategy. This contract allows us to enhance our capabilities with modern and more efficient tankers while also expanding our collaboration with IMI and supporting the development of Saudi Arabia's maritime supply chain.”
Engineer Abdullah Al-Ghamdi, CEO of IMI, also added: “This achievement reflects the continuous progress of the maritime industry in Saudi Arabia. We hope to meet Bahri's future needs and contribute to localizing shipbuilding capabilities in line with the Kingdom's Vision goals.”
Read more: Increase in oil tanker charter estimates on October 14, 2026
