ENERGY SECTOR
National Shipping Company of
Saudi Arabia (Bahri)
Sustanible Nautical Shipping
National Shipping Company of
Saudi Arabia (Bahri)
- www.bahri.com
- Year company founded: 1978
- Number of employees: 4,000
- Market capitalization: SAR 15.97 billion
A global leader in logistics and transportation, Bahri has been playing a preeminent role in shaping the growth of Saudi Arabia’s maritime industry for more than 40 years. Committed to contributing to the Saudi Vision 2030, the company is working to position Saudi Arabia as a unique regional and global logistics hub and international transportation gateway to three continents – Asia, Europe, and Africa.
Founded in 1978 and headquartered in Riyadh, Bahri has a global network of offices in Saudi Arabia, the UAE, the US, and India, as well as a vast network of agents across the Middle East, Africa, the US, Europe, and Asia.
One of the worlds largest of VLCCs and the largest owner and operator of chemical tankers in the Middle East, Bahri owns and operates an expansive fleet of 89 vessels, including 41 VLCCs, 34 chemical and product tankers, six multipurpose ro-ro vessels, and nine dry-bulk carriers, serving 150 ports worldwide.
Bahri owns and operates 89 vessels, including 41 very large crude-oil carriers (VLCCs), 23 chemical tankers and 10 product tankers, 6 multipurpose ro-ro vessels, and 9 dry-bulk carriers
153% Annual increase in net profit in 2020 compared to 2019
Bahri has around 3,000 employees and places significant emphasis on the well-being and professional and personal development of its people. Keen on contributing to the building of a local talent pool, Bahri also provides training and mentorship opportunities to university students and graduates in Saudi Arabia through a variety of initiatives.
In keeping with its strategy to enhance operational efficiencies and improve customer satisfaction, Bahri has designed and implemented a host of new technologies. The company’s new IT system integrates ports, agents, and offices to provide the best possible customer service, and a round-the-clock ‘Track & Trace’ service enables seamless access to Bahri’s cargo tracking system.
As a true reflection of its commitment to Vision 2030, Bahri has been contributing to the development of the King Salman Complex for Maritime Industries and Services in Ras Al Khair, which is set to become the largest maritime yard in Saudi Arabia with indigenous shipbuilding and maintenance capabilities.
About Bahri:
- Established in 1978
- Shareholding:
- Market capitalization of SAR 15.97 billion
- Diverse fleet of 89 vessels and additional one VLCC and 10 chemicals new building tankers on order
- More than four decades of experience as a “Total Logistics Solutions” provider
- One of the leading players globally
- Provider of direct liner service from the US to Saudi Arabia, connecting key ports on the way.
Financial performance & sustainability
- Track record of consistently achieving strong financial results despite multiple challenges facing the maritime industry
- Reported revenue of SAR 8.39 billion in 2020
- Reported record financial results in Q2-2020, the highest ever in its history, with a net profit surge of 1,569 percent compared to the same period in 2019.
Workforce
- Nearly 3,000 dedicated and highly experienced employees globally
- Female labor force participation in KSA offices increased by 37% in 2020.
2020 Key Achievements
- Bahri signed a strategic partnership with Saudi Agricultural and Livestock Investment Company (SALIC) to establish National Grain Company.
- Bahri signed a five-year framework agreement worth SAR 300 million with Saudi Arabia’s Presidency of State Security (PSS).
- Bahri signed $410m agreement to receive 10 new chemical tankers from Hyundai Mipo Dockyard.
- Bahri inks agreement with Tabadul to implement Fasah Pay.
- Bahri linked a training services agreement with the National Maritime Academy (NMA) to train and upskill the Saudi youth in the maritime sector.
- Bahri donates SAR 10m to Ministry of Health to help combat COVID-19 in Saudi Arabia.
- Received three new dry-bulk tankers.
- Bahri won eight awards in distinct categories.
Financial practices
Company consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization for Certified Public Accountants (SOCPA).
Certifications
- SO 45001:2018 standard for occupational health and safety (OH&S) Management Systems
- ISO/IEC 27001:2013 Certification Information Security Management System (ISMS)
- ISO 9001:2015 Quality Management System Certifications
- ISO 50001:2011 Energy Management Certification
- ISO 14001:2015 Environmental Management Certification
- ISO 9001:2015 for Highest Standard of Operational Excellence
Bahri’s CSR initiatives have a key focus on environmentally-friendly practices, youth development and the empowerment of women. Bahri deployed many strategies to promote sustainable practices, reduce our environmental impact, and improve efficiency.
Bahri partnered with King Abdulaziz University (KAU) to provide intensive practical training for students undergoing Marine Navigation and Engineering programs at KAU onboard the company vessels. Over the last 5 years, Bahri has provided all-expenses-paid training opportunities to 189 KAU students that will build a prosperous future for the Kingdom and contribute to economic and social development through their skills and expertise. In addition, the company also provides long-term trainings lasting 10 months to fresh graduates under its Graduate Development Program (GDP) and short-term trainings to under graduates.
In yet another continuing initiative, Bahri has partnered with the Computer Rehabilitation Charitable Organization (Ertiqa) in Saudi Arabia to promote the recycling and reusing of used computers in the Kingdom.