Saudi Iron & Steel Company (Hadeed) and the National Shipping Company of Saudi Arabia (Bahri) have signed a letter of intent to explore opportunities for cooperation in maritime transport to meet Hadeed’s requirements for seaborne iron ore shipments. The LOI, signed in Riyadh, outlines the two parties’ intention to discuss mechanisms for leveraging Bahri’s capabilities to provide maritime transport services that support Hadeed’s needs.
The cooperation aims to explore joint opportunities between Bahri and Hadeed, including the potential development and construction of new vessels specifically designed to meet the operational and technical requirements of Hadeed’s operations within the Kingdom.
On the occasion, Bahri’s Chief Executive Officer, Eng. Ahmed Al-Subaey, said: “This cooperation represents an important step toward strengthening the national maritime transport ecosystem. At Bahri, we reaffirm our commitment to supporting supply chains and providing reliable and flexible shipping solutions that contribute to improving operational efficiency for our partners.”
For his part, Hadeed’s Chief Executive Officer, Mr. Abdulqader Al-Mubarak, stated: “Hadeed continuously works to develop its operational and logistics ecosystem, and this cooperation with Bahri is a supportive step toward securing specialized maritime transport solutions that meet our operational needs and enhance the efficiency of the industrial sector.”
This cooperation comes as part of broader efforts to strengthen industrial and operational integration and localize value chains, with Bahri serving as the Kingdom’s national maritime carrier with a global logistics presence, while Hadeed is one of the leading major national industrial companies in the iron and steel sector.
