Saudi Arabian owner Bahri has entered into an agreement with Hyundai Mipo Dockyard for the construction of ten 49,999 dwt medium range chemical tankers.
Bahri said the agreement comes as part of its ongoing endeavors aimed at expanding its marine capabilities and renewing its fleet.
The total value of the contracts is $410m, and deliveries will start from the first quarter of 2022.
“The new agreement with HMD for the building of 10 high-spec chemical tankers represents a major step forward in our next phase of growth and further strengthens our leading position in the global maritime industry. With the newbuilds entering our fleet over the next two years, we will be further equipped to cater to the varying needs of our customers around the world,” said Abdullah Aldubaikhi, CEO of Bahri.
Bahri is one of the world’s largest owners and operators of VLCCs and the Middle East’s largest owner and operator of chemical tankers. The company owns and operates a total of 87 vessels, including 41 VLCCs, 34 chemical and product tankers, 6 multipurpose ro-ro vessels, and six dry bulk carriers.