{"id":81131,"date":"2024-09-19T00:00:00","date_gmt":"2024-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/19\/ksas-bahri-reveals-plan-to-build-fleet-of-lng-tankers\/"},"modified":"2024-09-19T00:00:00","modified_gmt":"2024-09-19T00:00:00","slug":"ksas-bahri-reveals-plan-to-build-fleet-of-lng-tankers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/19\/ksas-bahri-reveals-plan-to-build-fleet-of-lng-tankers\/","title":{"rendered":"KSA\u2019s Bahri reveals plan to build fleet of LNG tankers"},"content":{"rendered":"

Bahri eyes an LNG fleet expansion:<\/strong> KSA shipping giant Bahri is looking to build a fleet of 20 to 30 new liquefied natural gas (LNG) tankers in a bid to boost the Kingdom\u2019s fuel supplies and meet rising global demand, Bahri CEO Ahmed Ali Al Subaey told Asharq Business<\/a>.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Details are scant: <\/strong>The company aims to build the fleet \u2014 which is set to carry LNG, hydrogen, and ammonia \u2014 through joint ventures with unnamed partners. No investment ticket has been disclosed, but the plan is set to be presented to the board of directors for approval next year. <\/p>\n

We knew this was coming: <\/strong>The firm said back in July<\/a> \u2014 following its 2Q 2024 earnings \u2014 that it plans to generate further growth through strategic fleet expansion and upgrades. Bahri and Saudi investment holding firm Aljan & Bros renewed earlier this year<\/a> an MoU to discuss establishing a joint venture in vessel building. <\/p>\n

A boon for the Kingdom\u2019s gas sector: <\/strong>KSA is looking to increase gas supplies by developing Aramco\u2019s Jafurah field \u2014 a gas field estimated to contain some 200 tn standard cubic feet \u2014 which should help meet the Kingdom\u2019s domestic energy needs, while the rest will be exported as hydrogen or LNG, Asharq writes.<\/p>\n

Bahri\u2019s also been on a purchasing spree: <\/strong>Bahri inked an agreement back in August<\/a> to acquire nine very large crude carriers (VLCCs) from global shipping outfit Capital Maritime and Trading Corporation for SAR 3.75 bn (c.USD 1 bn). The shipping giant also reportedly bought four modern VLCCs earlier in May<\/a> from South Korean SM Group subsidiary Korea Line Corporation. <\/p>\n","protected":false},"excerpt":{"rendered":"

The fleet is set to carry LNG, hydrogen, and ammonia<\/p>\n","protected":false},"author":1,"featured_media":81132,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[227,31,123,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shipping-maritime","tag-lng","tag-saudi-arabia","tag-shipping-maritime","tag-trade","wpautop","entry"],"acf":{"mongo_id":"044472ca-68e7-4907-8add-a1dd583bd1a4","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1868.jpg","photo_position":"above","homepage_title":"","full_issue_title":"KSA\u2019s Bahri reveals plan to build fleet of LNG tankers","related_issue":[81124],"teaser":"The fleet is set to carry LNG, hydrogen, and ammonia","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.3b9c23df-5755-43ae-8269-5b113ec020dc.mp3"},"yoast_head":"\nKSA\u2019s Bahri reveals plan to build fleet of LNG tankers - 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