Bahri, a global leader in logistics and transportation, announced that it has signed a memorandum of understanding with Saudi Arabian Mining Company (Ma’aden), one of the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East.

In the presence of Eng. Abdullah Aldubaikhi, CEO of Bahri, and Eng. Abdulaziz bin Askar Al-Harbi, CEO of Ma’aden, the agreement was signed between Eng. Mohammed Bin Battal, President of Bahri Dry Bulk, and Mr. Anas Albassam, Vice President of Commercial and Market Development Phosphates at Maaden, at a ceremony on the sidelines of the Future Minerals Forum held in Riyadh from 11-13 January 2022.

The agreement comes as part of Bahri’s ongoing efforts to strengthen its logistics sector ties, in service of the national economy. Bahri and Ma’aden will explore cooperation across various fields, including chartering cargo ships to transport ammonia gas, dry transport needs, and other areas the two companies will agree to collaborate on in the future.

Commenting on the agreement, Eng. Abdullah Aldubaikhi, CEO of Bahri, said: “As a company committed to contributing to Saudi Arabia’s maritime goals set out in Saudi Vision 2030, Bahri sees this agreement with Ma’aden as an essential step towards bolstering the Kingdom’s raw materials trade. The strategic partnerships being forged with national companies such as Ma’aden in the next few years will prove the most fruitful for our long-term growth and stability, both regionally and internationally.”

The inaugural Future Minerals Forum connected global policymakers with investors and business leaders across the mining value chain and its supporting industries. The forum aimed to advance the mining goals of countries across the Middle East, Central Asia, and North and East Africa.

One of the world’s largest owners and operators of VLCCs and the Middle East’s one of the largest owners and operator of chemical tankers, Bahri owns and operates a total of 90 vessels, including 42 VLCCs, 33 chemical and product tankers, 6 multipurpose vessels, and 9 dry-bulk carriers.