Saudi Arabia’s flagship shipping line Bahri has signed a non-binding memorandum of understanding with the Suez Canal Authority (SCA) to establish an Egyptian joint-stock shipping company.
Bahri said the planned new entity would specialise in owning, leasing, chartering, and operating vessels to transport general and bulk cargo, chemicals and oil.
Established in 1978, Bahri Group now has six business units that include Bahri Oil, Bahri Logistics, Bahri Chemicals, Bahri Dry Bulk, Bahri Ship Management, and Bahri Desalination. The company owns and operates nearly 100 ships.
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