Saudi shipping company Bahri has signed a SR1.69 billion ($451 million) contract with International Maritime Industries to build three very large crude carriers, according to a Saudi Exchange filing on Oct. 25.
Each of the three vessels will have a capacity of 320,000 deadweight tonnes. Deliveries are scheduled in batches between 2029 and 2030.
Bahri described the order as part of its effort to expand and modernize its fleet amid strong demand for crude oil transport. The company also said the deal supports domestic shipbuilding.