IMI and Bahri sign SAR 1.692 billion contract for three VLCCs

International Maritime Industries (IMI) and Bahri have signed a contract valued at approximately SAR 1.692 billion to construct three Very Large Crude Carriers (VLCCs). The agreement was announced during the Saudi Maritime & Logistics Congress.

Each of the three vessels will have a capacity of 320,000 deadweight tons (DWT) and will be equipped with advanced energy-efficiency technologies. Phased delivery of the tankers is expected to take place between 2029 and 2030.

The project aims to modernize Bahri’s fleet and support the localization of shipbuilding capabilities in Saudi Arabia, aligning with the goals of Vision 2030. This deal brings the total number of vessels Bahri has contracted to be built in Saudi Arabia this year to nine, including six Ultramax bulk carriers and three VLCCs.