Bahri Oil, one of the business segments of Bahri Group, the Saudi national maritime transport company and a global leader in logistics and maritime transportation, has announced the completion of a massive acquisition deal for nine very large crude carriers (VLCCs) with a total value of one billion US dollars (equivalent to 3.75 billion Saudi riyals), with the receipt of the ninth and final vessel, “Burgan”.
This deal, which was concluded with the Greek company “Capital Maritime and Trading Corporation” in August 2024, represents an exceptional achievement in execution speed within Bahri Oil, having been successfully completed in less than 12 months. With this achievement, the total number of VLCCs owned by Bahri rises to 50 vessels, making it the largest owner globally.
This strategic expansion is one of the most significant investments in Bahri’s history and solidifies its leading position as the world’s largest owner and operator of VLCCs. The nine vessels were manufactured in South Korea and equipped with the latest advanced systems for gas purification, reducing carbon emissions, and improving energy efficiency, reflecting Bahri’s firm commitment to the principles of environmental sustainability and compliance with international standards.
With the completion of this pivotal deal, the total number of vessels owned by Bahri Group has exceeded 100 ships by the end of the second quarter of 2025. The company achieved outstanding financial performance during the first quarter of this year, with net profit growing by 18% year-on-year to reach 533 million Saudi riyals, supported by the operational flexibility of its advanced fleet, returns from vessel sales, and the diversification of its business across various maritime transport sectors.
As the national maritime transport company of the Kingdom, Bahri continues to lead the way in consolidating Saudi leadership in the global maritime industry through its integrated business segments and advanced logistics capabilities, contributing to driving innovation, enabling sustainable trade, and enhancing the Kingdom’s presence in international markets.
