New entity to be headquartered in Riyadh
The joint venture, called Bahri Bollore Logistics, will be headquartered in Riyadh.
The new entity is expected to help Bahri provide end-to-end logistics services to clients in the region and globally, in addition to its transport and shipping business in the region, while providing Bollore access to the local and regional logistics market.
According to Ali al-Harbi, acting CEO of Bahri, entering the supply chain and logistics segment is a natural extension of their business. He says the firm is aiming to expand from being a leader in the transportation of goods port-to-port, to the delivery of goods gate-to-gate.
Bahri owns and operates 86 vessels, including 39 very large crude carriers (VLCCs), 36 chemical / product tankers, six multipurpose vessels, and five dry-bulk carriers.
The company received its 39th VLCC on 19 July from South Koreas Hyundai Heavy Industries (HHI).
A further seven VLCCs are on order.
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