RIYADH : Bahri has inked collaborative agreements covering both tankers and dry bulk with George Procopiou’s Dynacom and SeaTraders
In an unprecedented cooperation between the Saudi Arabian state shipping firm and Greek private shipping interests, two Memorandum of Understandings (MoUs) have been inked with between Bahri and the two firms belonging the Procopiou family.
The first MoU was signed between Bahri and Dynacom, while the second was inked between Bahri Dry Bulk and SeaTraders.
Both agreements cover a term of one year and aim to establish avenues to seamlessly transfer technology and services between the Saudi and Greek companies to the benefit of both national economies.
Eng. Ahmed Ali Alsubaie, CEO of Bahri, said: “With the signing of these two significant agreements, Bahri has taken yet another major leap towards improving the operational efficiency of our fleet and further establishing our organization both regionally and globally.
“Dynacom and SeaTraders have developed impressive service portfolios, and we are excited to build a lasting relationship that embodies innovation and strengthens our country’s bilateral relations.”
The MoUs were signed during the Saudi Greek Investment Forum in Athens, which was held at the end of July on the sidelines of the visit of HRH Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to Greece.
Eng. Mohammed Bin Battal, President of Bahri Dry Bulk, said, “We are proud to begin the collaborative process with Sea Traders, in ambitious pursuit of expanding our market presence and growing parallel to other dry-bulk shipping leaders.
“This new agreement gives leeway to a remarkable collaboration between the Saudi Arabian and Greek private sectors. It demonstrates our commitment to providing services of the highest standards to our customers.”
During the recent forum Saudi Arabian and Greek entities signed more than a dozen agreements worth over SAR15.2bn.
The combined group of Dynacom Tankers Management, Sea Traders and Dynagas operates a fleet of 129 vessels.