Bahri, the national shipping company of the Kingdom of Saudi Arabia, has signed a non-binding renewable six-month agreement with the Suez Canal Authority with the view to create a joint Egyptian shareholding company to offer maritime transportation services in the Egyptian market.
As stated by Bahri, under the terms of the MoU, the two parties will discuss the potential of owning, leasing, hiring, and operating ships to transport general goods, including dry bulk, chemicals, oil, petroleum products, and liquefied gas, to meet the demands of the local market.
H.E. Admiral Osama Rabie, Chairman of the Suez Canal Authority, affirmed the signing of the MoU, stated: “Our agreement with Bahri falls in line with our mission to maintain and enhance the Suez Canal for the benefit of operators and regional markets.”
The Suez Canal is positioned as a pivotal waterway that has allowed for the seamless transport of consumer goods and commodities from Asia and the Middle East to Europe. Our agreement with the Suez Canal Authority underlines Bahri’s commitment to collaboration in order to deliver industry-leading maritime transport solutions.
…said H.E. Eng. Ahmed Ali Alsubaey, CEO of Bahri.
The agreement was signed by Eng. Mohammed Bin Battal, President of Bahri Dry Bulk and Eng. Jamil Al Sayyed Abul Khair, Board Member at Suez Canal Authority, in the presence of H.E. Admiral Osama Rabie, Chairman of the Suez Canal Authority; H.E. Eng. Ahmed Ali Alsubaey, Chief Executive Officer of Bahri; and Badr bin Ibrahim Al-Badr, the Undersecretary of the Ministry of Investment for Communication with Investors.
