Saudi shipping major Bahri and steel producer Hadeed are exploring a strategic partnership aimed at strengthening iron ore logistics and aligning maritime capacity with Saudi Arabia’s industrial needs.
The two companies have signed a non-binding letter of intent in Riyadh to assess closer cooperation in iron ore transportation. Under the proposed arrangement, Bahri would evaluate how its fleet, technical expertise, and operational capabilities can support Hadeed’s bulk raw material imports. The discussions also include the possibility of jointly developing vessels customised to Hadeed’s specific operational and technical requirements within the kingdom.
According to Bahri, the talks reflect a broader push to deepen industrial integration and localise value chains by forging stronger links between the country’s shipping and manufacturing sectors.
Bahri’s dry bulk division currently operates a fleet of 13 bulk carriers, largely employed on long-term contracts with ARASCO. The company has also been expanding and modernising its fleet, placing orders last year for six geared ultramax bulk carriers at International Maritime Industries. The 62,823 dwt vessels, with a combined value of around $203m, are scheduled for delivery between 2028 and 2029.
Join our WhatsApp channel for more updates:
Subscribe to our YouTube channel for more updates:
