Bahri and Petredec unite to meet Saudi Arabian LPG demand
The two companies will set up a joint commercial team led by Bahri Oil and Petredec
Bahri, formerly the National Shipping Company of Saudi Arabia, has a 40% stake in LPG specialist Petredec
BAHRI Shipping and Petredec have agreed to form a partnership to address Saudi Arabia’s increasing LPG and ammonia demands.
The two companies will establish a dedicated joint commercial team, led by Bahri Oil and Petredec, which Bahri has a 40% stake in.
Bahri chief executive Ahmed Ali Al Subaey said the alliance with Petredec “builds on two decades of partnership and underscores Bahri’s commitment to meeting Saudi Arabia’s growing demand for LPG and ammonia shipping solutions”.
“Bahri will establish an in-house LPG team within Bahri Oil to target all future Saudi Arabian LPG and ammonia shipping requirements,” he said.
“By combining Bahri’s global expertise with Petredec’s renowned leadership in LPG and logistics platform, we aim to strengthen our presence in these critical markets.”
Petredec operates the world’s second-largest VLGC fleet and second-largest handysize gas carrier fleet.
Chief executive Giles Fearn called the partnership a “natural progression, combining our respective strengths to meet Saudi Arabia’s growing LPG and ammonia shipping needs”.
“I look forward to our extended collaboration with Bahri as it broadens its role within the LPG sector.”