Bahri, National Saudi Arabia shipping company, announced that signed a Memorandum of Understanding (MoU) with Hyundai Heavy Industries (HHI), to harness big data and technological innovation in the maritime industry. The ceremony took place at Bahri’s headquarters in Riyadh.
According to Bahri, the agreement sets a business cooperation framework to jointly evaluate the feasibility of launching new long-term projects, while at the same time bolster existing projects that have resulted from their cooperation over the years.
Mr. Anwar Siddiqui, Head of Bahri Data, said: “The need of the hour is a solid and reliable framework that puts data at the core of our business, and this collaboration will set the tone for distilling sophisticated transportation functions into streamlined and predictable data that helps make smarter decisions. This strategic undertaking with HHI Group opens up several possibilities, including using Big Data technology to generate higher revenues and ensuring improved client satisfaction through real-time data and analysis.”
Mr. Ali Al-Harbi, CEO, Bahri, said: “We also have the Saudi Vision 2030 in our sights, and with cost efficiency and economic diversification being key components of the reform plan, we believe that this collaboration comes at a crucial moment for both companies and the transportation industry at large.”
The discussions of collaboration were initiated when a delegation from Bahri visited HHI Group in February this year for the naming ceremony of Bahri’s recently delivered ‘AMJAD’, a 300,000 DWT Very Large Crude Carrier (VLCC). With the new Big Data division launched in 2016, the company saw HHI Group as a potential partner considering its extensive experience and impressive record in shipbuilding.
The two companies have shared a close relationship for decades and have overseen the delivery of 34 vessels.
