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 to meet Hadeed’s iron ore shipping needs. 

The LOI, signed in Riyadh, states that both parties intend to discuss mechanisms for utilising Bahri capabilities to meet Hadeed’s maritime transport requirements. 

This collaboration aims to explore potential joint opportunities between Bahri and Hadeed, including the potential development and construction of new vessels tailored to Hadeed’s operational and technical needs within the Kingdom. 

Speaking on the occasion, Bahri’s Chief Executive Officer, Eng. Ahmed Al Subaey, said: "This collaboration marks an important step toward enhancing the national maritime transport ecosystem. At Bahri, we remain committed to supporting supply chains and providing reliable and resilient shipping solutions that enhance operational efficiency for our partners."

Hadeed’s CEO Abdulqader Al Mubarak said: "Hadeed is continuously working on developing its operational and logistics ecosystem. This collaboration with Bahri represents a supportive step toward securing specialized maritime transport solutions that meet our operational needs and enhance the efficiency of the industrial sector."

The co-operation aligns with efforts to strengthen industrial and operational integration and localise value chains. 

Bahri serves as the kingdom’s national maritime carrier with a global logistics footprint, while Hadeed is one of Saudi Arabia’s leading national industrial companies in the steel and iron sector.-TradeArabia News Service