Bahri reportedly puts LNG entry on hold

Bahri reportedly puts LNG entry on hold

Bahri’s planned entry into the LNG shipping sector has been put on hold, according to Reuters. Last December, Splash reported that the the shipping subsidiary of Saudi Aramco had issued an expression of interest (EOI) to charter up to 12 LNG carriers from 2025.

Bahri’s diverse fleet today of 90 vessels includes crude, chemical and product tankers as well as some dry bulk carriers. Saudi Aramco is keen to develop its own gas resources as well as buying overseas assets.

In May last year, Saudi Aramco signed a 20-year agreement to buy LNG from a forthcoming export terminal in Port Arthur, Texas.

Reuters cites problems with getting the go-ahead for exports out of the Texan facility as the reason for Bahri postponing its LNG entry.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts