The National Shipping Company of Saudi Arabia (Bahri) has unveiled plans to build the Kingdom’s first large-scale commercial vessel fleet.
On Wednesday, Bahri announced the signing of a purchase agreement with the International Maritime Industries (IMI) to build and deliver 6 Ultramax Dry Bulk Vessels, reported the Saudi Press Agency (SPA).
First Saudi Shipbuilding Project
Bahri is a Saudi leading provider of shipping and logistics services. The new agreement is part of the company’s ongoing efforts to boost Saudi Arabia’s maritime industry, support local economy, and contribute to building a new supply chain ecosystem in order to enhance the Kingdom’s global trade competitiveness.
The remarkable milestone heralds the first large-scale shipbuilding project in Saudi Arabia, underscoring the Kingdom’s commitment to developing an integrated and globally competitive maritime ecosystem that aligns with the objectives of Saudi Vision 2030.
It also supports the Saudi Inc. initiative, designed to bolster collaboration among major Saudi companies and promote the localization of supply chains.
Ultramax Vessels
The new carriers will be built at IMI’s Ras Al-Khair yard, the most developed maritime facility in the Middle East and North Africa.
كمحطة فارقة في مسيرة الصناعة البحرية السعودية، أبرمت #البحري اتفاقية استراتيجية مع الشركة العالمية للصناعات البحرية، لشراء وبناء ست ناقلات للبضائع الجافة السائبة.
يمثل هذا الإنجاز ركيزة أساسية لتعزيز مكانة المملكة كمركز بحري عالمي في ظل رؤية 2030.As a milestone in the journey… pic.twitter.com/BvSztxomlS
— Bahri | البحري (@OneBahri) October 1, 2025
The Ultramax vessels are designed to deliver significant operational flexibility and efficiency. The vessels can access ports with limited infrastructure, allowing Bahri Dry Bulk sector to expand into niche markets and emerging trade routes.
This adaptability reduces exposure to market volatility while enhancing resilience, competitiveness, and sustainability in a rapidly evolving industry.
The vessels’ estimated cost is around SAR 762 million. IMI is expected to deliver the 6 vessels to Bahri in batches between 2028 and 2029.
Supporting Modernization Efforts
On this occasion, Bahri CEO, Ahmed Ali Al-Subaey, called the agreement a “strategic milestone” for Bahri and a major stride for the development of the Kingdom’s maritime industry.
“Through our partnership with IMI to launch the first large-scale national shipbuilding program, we are not only modernizing our fleet but also laying the foundations for a sustainable and globally competitive maritime sector,” he noted.
Al-Subaey also said that the new carriers will enable the company to expand into strategic markets, enhance supply chain resilience, and create long-term value for customers and stakeholders, in line with Vision 2030.
