Riyadh-headquartered Bahri, has signed a Memorandum of Understanding (MoU) with International Maritime Industries (IMI) and Hyundai Heavy Industries (HHI) to build a series of new VLCCs. As part of the agreement, Bahri is committed to issuing IMI its first order before the end of July 2019. Following the placing of the order, IMI will engage HHI as a sub-contractor to build the vessel in South Korea. HHI, in turn, will help facilitate the transfer of knowledge enabling IMI to independently build VLCCs to international shipbuilding standards in Saudi Arabia in future.
IMI is a joint venture between Saudi Aramco, Bahri, Lamprell, and Hyundai Heavy Industries. Located in the King Salman Complex for International Maritime Industries and Services at Ras Al-Khair, Saudi Arabia, operations at the new shipyard are expected to commence toward the end of 2020 with the facility reaching its full capacity by 2022.
In another significant development, Bahri has opened up its new iSupplier portal as a dedicated communication channel between its procurement team and suppliers and contractors. The aim is to facilitate contacts with a wider range of companies in Saudi Arabia’s private sector, who can now more easily register themselves as a Bahri-certified and approved supplier or contractor through the platform. Upon registration, they may be contacted, based on business needs and requirements at Bahri, and will be able to access information related to invoices and orders, financial transactions, performance evaluation and data management.
Bahri is now inviting all partners to take advantage of iSupplier. It is expected to offer significant benefits in terms of the time and effort required to register and will also assist Bahri in maintaining supplier records and managing order changes. Other benefits are expected to include improved inventory availability, streamlined payments with online invoicing and better contract management.