Bahri (The National Shipping Company of Saudi Arabia) and LPG value chain company Petredec have agreed to form a strategic partnership to serve Saudi Arabia’s LPG and ammonia shipping demand. The partners said they will set up a joint commercial team led by Bahri Oil and Petredec.
In accordance with the chief executive of Bahri, Eng. Ahmed Ali Al Subaey, Bahri will establish an in-house LPG team within Bahri Oil to target all future Saudi Arabian LPG and ammonia shipping requirements.
The strategic alliance will build on nearly two decades of collaboration, marking a new chapter in the long-standing relationship between Bahri and Petredec, the statement reads.
Both companies confirmed their collaboration with a joint statement.
Giles Fearn, CEO of the Petredec Group, pointed out: “This partnership is a natural progression, combining our respective strengths to meet Saudi Arabia’s growing LPG and ammonia shipping needs.”
Bahri’s 40% shareholding in Petredec, combined with Petredec’s LPG logistics and value chain platform creates a strong foundation, Petredec said, to meet the increasing regional and global demand for LPG and ammonia transportation.
Eng. Ahmed Ali Al Subaey, CEO of Bahri, added: “This strategic alliance with Petredec builds on two decades of partnership and underscores Bahri’s commitment to meeting Saudi Arabia’s growing demand for LPG and ammonia shipping solutions.”
