Bahri to Set Up JV Company with Suez Canal Authority

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>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 2 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >