Business

The National Shipping Company of Saudi Arabia (Bahri) and the Saudi Iron & Steel Company (Hadeed) have signed a Letter of Intent (LOI) to explore potential cooperation in maritime transport solutions aimed at supporting Hadeed’s iron ore shipping requirements and strengthening industrial integration within the Kingdom.

Signed in Riyadh, the LOI outlines plans for both parties to assess how Bahri’s maritime capabilities can be utilised to meet Hadeed’s operational needs. The discussions will examine mechanisms for providing tailored shipping solutions, including the potential development and construction of specialised vessels designed to align with Hadeed’s technical and operational specifications, with an emphasis on localisation within Saudi Arabia.

Bahri’s Chief Executive Officer, Eng. Ahmed Al-Subaey, said the agreement represents a significant step in enhancing the Kingdom’s maritime transport ecosystem. He noted that Bahri remains committed to supporting supply chains by delivering reliable and resilient shipping solutions that improve operational efficiency for industrial partners.

Hadeed’s Chief Executive Officer, Mr. Abdulqader Al-Mubarak, said the company continues to focus on developing its logistics and operational infrastructure. He added that the collaboration with Bahri supports Hadeed’s efforts to secure specialised maritime transport solutions that enhance efficiency across the industrial sector.

The proposed cooperation aligns with national initiatives to strengthen industrial and operational integration and to localise value chains. Bahri operates as Saudi Arabia’s national maritime carrier with a global logistics footprint, while Hadeed is among the Kingdom’s leading industrial companies in the iron and steel sector. The partnership is expected to support long-term supply chain resilience and contribute to sustainable industrial growth in line with Saudi Arabia’s strategic development goals.

• Tags
• #Business
• #Magazine
• #Lifestyle