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Petredec and Bahri have agreed to form a strategic partnership aimed at addressing Saudi Arabia’s increasing LPG and ammonia shipping demands. The two companies will establish a dedicated joint commercial team, led by Bahri Oil and Petredec, while Bahri will establish an in-house LPG team within Bahri Oil to target all future Saudi Arabian LPG and ammonia shipping requirements.
It is expected that Bahri’s 40% shareholding in Petredec, combined with Petredec’s LPG logistics and expertise, will create a strong foundation to meet increasing regional and global demand for LPG and ammonia transportation.
Giles Fearn, CEO of the Petredec Group, commented: “For two decades, our relationship with Bahri has been built on mutual trust and shared objectives. This partnership is a natural progression, combining our respective strengths to meet Saudi Arabia’s growing LPG and ammonia shipping needs.”
Petredec has developed a series of LPG import terminals around the Indian Ocean. The first of these was commissioned in Mauritius in 2014, followed by the Richards Bay terminal in 2020, launched in South Africa in partnership with Bidvest Tank Terminals. In 2024, Petredec commenced operations at its largest terminal to date, an import facility in Krishnapatnam, India, with further developments underway in other key developing markets. Bahri’s service offering includes transportation of crude oil, oil products, chemical, dry bulk and general cargo, as well as ship management.
