Bahri, Hyundai Heavy Industries collaborate to roll out big data initiatives
Bahri, a global leader in transportation and logistics, has signed a memorandum of understanding (MoU) with Hyundai Heavy Industries (HHI) Group to harness big data and technological innovation in the maritime industry. HHI Group is the world’s largest shipbuilding group with extensive experience in ship construction and shipyard management.
The two parties signed an agreement that lays out a comprehensive business cooperation framework to jointly evaluate the feasibility of launching new long-term projects, while at the same time bolster existing projects that have resulted from their close association over the years. Bahri was represented by its Acting CEO, Ali Al-Harbi, and Bahri Data, an expert in data-driven efficiencies and the usage of big data and advanced analytics in the maritime industry. Representatives from Bahri Ship Management also attended the signing ceremony.
The ceremony, which took place at Bahri’s headquarters in Riyadh, was presided by Abdulrahman Mohammed Al-Mofadhi, chairman, Bahri, and Chung Ki-sun, executive vice president of corporate planning for HHI Group, who was accompanied by Kwang-Hean An, CEO of Hyundai Global Service (HGS), the service company of HHI Group.
Bahri Acting CEO Al-Harbi said: “We are excited to collaborate with HHI Group and unearth opportu- nities that will positively impact the transportation and logistics sector. As one of the largest ship owners and operators in the world, we have a commitment toward the industry to drive sustainable growth by deploying new and improved technology, harnessing data and insights, and making the system more efficient than ever before.
“We also have the Saudi Vision 2030 in our sights, and with cost efficiency and economic diversifi- cation being key components of the reform plan, we believe that this collaboration comes at a crucial moment for both companies and the transportation industry at large.”
Anwar Siddiqui, head of Bahri Data, said: “In just over a year since launch, Bahri Data has emerged as a critical differentiator for Bahri and has established itself as a benchmark for data-driven initiatives in the transportation industry. The need of the hour is a solid and reliable framework that puts data at the core of our business, and this collaboration will set the tone for distilling sophisticated transportation functions into streamlined and predictable data that helps make smarter decisions.
“This strategic undertaking with HHI Group opens up several possibilities, including using big data technology to generate higher revenues and ensuring improved client satisfaction through realtime data and analysis.”