Trailblazer for a sustainable maritime industry
The Saudi Arabian maritime giant Bahri is connecting economies through excellence in transportation and logistics
As one of the leading operators in the global maritime industry, the Saudi National Shipping Company, Bahri, is playing a pivotal role in Saudi Arabia’s efforts to develop, strengthen and diversify its economy.
In the first nine months of 2022, Bahri recorded a 54 percent year-on-year increase in its revenues to around $1.6 billion, thanks to upswings within its shipping-focused divisions: oil, logistics, chemicals, dry bulk and ship management. “The results reflect the robustness and resilience of our business strategy—boosting our capabilities, enhancing our product offering and increasing efficiency are at the core of this strategy. The performance also mirrors our commitment to adding value for shareholders and advancing Saudi Arabia’s maritime logistics and transportation sectors,” says Chairman Mohammed Abdulaziz Alsarhan.
With Saudi Arabia occupying a privileged location at the crossroads of trade routes between Asia, Europe and Africa, one of Bahri’s objectives is to support the nation’s transformation into a global logistics hub. To help achieve this, the company is forging partnerships. “These include our joint venture with Bolloré, one of the largest transport and logistics operators in the world, which has enabled us to offer end-to-end logistics solutions. Additionally, we have signed an agreement with Saudi Ports Authority to build and operate an integrated 95,436-square-meter logistics park at Jeddah Islamic Port. Bahri’s vision is to create value and share prosperity by connecting economies through excellence in global logistics solutions, which aligns with Saudi Arabia’s maritime ambitions and Vision 2030,” explains Alsarhan.
Bahri is also contributing to Vision 2030 by empowering and developing local talent, and by accelerating the transfer of technology into the country, he adds: “For example, we have established International Maritime Industries, a joint venture with Saudi Aramco, Lamprell and Hyundai Heavy Industries. Together, we are developing a maritime yard that will support the shipbuilding industry’s growth and produce state-of-the-art vessels.”
Those vessels will adhere to the highest environmental standards and Bahri’s newest business division also embodies the company’s pro-environment philosophy. “Through Bahri Marine, we are establishing three floating stations to desalinate seawater that have been designed to preserve the shallow-sea ecosystem. These stations will supply high-quality potable water for use across the country,” says Alsarhan. “At Bahri, we recognize the unique opportunity we have to address social and environmental challenges, and we place a strong focus on incorporating sustainable practices into every area of our business,” he concludes.