Bahri to Set Up JV Company with Suez Canal Authority

Image Courtesy: Dredging Suez Cnal

National Shipping Company of Saudi Arabia (Bahri) is exploring possibilities with the Suez Canal Authority (SCA) on establishment of a joint Egyptian-Saudi shipping company.

Namely, the two sides sealed a strategic agreement on cooperation in maritime transport on Wednesday, Bahri said.

Under the deal, the duo has decided to conduct a feasibility study on the joint venture company that would be headquartered in Egypt.

The join venture company would be engaged in transporting products and the materials required by the Suez Canal Axis Development project.

In addition, the company would provide integrated maritime services to vessels transiting the Suez Canal.

However, for the project to move forward it would need to secure approval from relevant authorities. As no other particulars were disclosed, Bahri said it would provide further details on the matter, once available.

Separately, Bahri announced that it has taken delivery of the two second-hand VLCCs ordered in December. Namely, the Voss Spirit, was transferred to Bahri’s ownership on Tuesday, 19 January 2016 and her name was changed to Arsan. The second vessel, Hemsedal Spirit, was transferred to Bahri on Wednesday and re-named to Dilam.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >