July 13, 2024

Business groups for Chemicals & Logistics in Bahri sign MoUs

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Bahri, a global leader in logistics and transportation, recently announced that its business units Bahri Chemicals and Bahri Logistics have recently signed Memorandums of Understanding (MoUs) with Saudi Aramco Base Oil Company (Luberef). The agreements are aimed at establishing and enhancing cooperation between Luberef and the two Bahri companies.

Building on the new partnership, Bahri Chemicals and Luberef will create a mutually beneficial Shipping Framework Agreement that will also impact positively the national economy. Under the terms of the MoU, Bahri Chemicals will provide distinguished logistics solutions and services to Luberef, which will assist by providing details of available shipments that align with vessel dates at load ports.

The MoU was signed by Mr. Faisal Al Husseini, Acting President of Bahri Chemicals, and Eng. Tareq Alnuaim, President & CEO of Saudi Aramco Base Oil Company – Luberef, during a special ceremony held at Bahri Dubai office. Following the signing, the two parties exchanged mementos and posed for group pictures. Bahri Logistics inked the MoU with Luberef during a signing ceremony recently at Bahri. President Eng. Soror Basaloum represented Bahri Logistics while Eng. Tareq Alnuaim, signed on behalf of Luberef.

Commenting on the agreement, Mr. Faisal Al Husseini, Acting President of Bahri Chemicals said: “We are delighted to enter into this new collaboration with a company of Luberef’s caliber, which is renowned across the region as one of the leading players in its field. By teaming up to develop a mutually beneficial Shipping Framework Agreement, we aim to not only strengthen the spirit of cooperation between our companies but also create a significant contribution to the Kingdom’s economy. We look forward to working closely together to provide world-class logistics services that will drive greater efficiency and ensure smoother operations for our distinguished partners.”

Eng. Soror Basaloum, President of Bahri Logistics, commented: “The agreement aims at the provision of  best-in-class sustainable and efficient solutions for Luberef’s logistics requirements. The products and services stipulated in the agreement include inland transportation within Saudi Arabia from Luberef plants to local customers for base oil main products; ISO tank container and Flexi-bag logistics solutions for Luberef’s local and export customers; storage hubs around the globe; and tanker storage solution within the local market.

Eng. Basalom further added: “The signing of the MoU with Luberef signifies a significant step in our effort to broaden Bahri Logistics’ local client base to extend our services to various sectors in Saudi Arabia to support the Kingdom’s economic diversification drive. This partnership further strengthens our distinguished reputation for offering industry-leading efficient and innovative logistics solutions that add value to our customers. We are confident that our offerings will create a positive impact on Luberef’s business growth, products, and customers.”

Eng. Tareq Alnuaim, President & CEO of Saudi Aramco Base Oil Company – Luberef, said: “We are pleased to collaborate with Bahri Chemicals as part of Luberef’s continuing journey towards excellence. The services provided by the two Bahri companies align perfectly with our commitment to delivering greater efficiency and sustainability throughout our operations and we look forward to a long and fruitful partnership with both companies.”

Saudi Aramco Base Oil Company – Luberef is one of the world’s leading suppliers of high-quality base oils and the only virgin base oil producer in the Kingdom of Saudi Arabia. The company services Saudi Arabia and India in addition to various markets in the Middle East and North Africa region. Luberef’s export markets include Asia, the Americas, and Europe

Bahri Chemicals is currently managing 59 vessels comprising 36 owned vessels, including 31 IMO2 medium range (MR) and five product tankers; 14 time charter vessels including one long-range (LR), nine MRs, and four Japanese DWT 19,000 Mt vessels; and handling the operations of nine vessels for SABIC. Through this fleet, Bahri Chemicals is providing maritime transportation to a global customer base across the chemicals, clean petroleum products, and vegetable oils industries.

The first of six business units within Bahri, Bahri Logistics is one of the top 10 break bulk carriers in the world. It owns and operates an impressive fleet of six state-of-the-art multipurpose vessels on a regular liner schedule. Leveraging over forty years of maritime logistics experience and combining all modes of transportation, including sea, air, rail, and road, the business unit offers end-to-end logistics and supply chain management solutions, including door-to-door, express freight forwarding, logistics services, and warehousing managemnet.

Press release received on email

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