The National Shipping Company of Saudi Arabia (Bahri) and the Saudi Iron & Steel Company (Hadeed) have signed a Letter of Intent (LOI) to explore potential cooperation in maritime transport to meet Hadeed’s Iron Ore shipping needs.
The LOI, signed in Riyadh, states that both parties intend to discuss mechanisms for utilizing Bahri capabilities to meet Hadeed’s maritime transport requirements. This collaboration aims to explore potential joint opportunities between Bahri and Hadeed , including the potential development and construction of new vessels tailored to Hadeed’s operational and technical needs within the Kingdom.
The cooperation aligns with efforts to strengthen industrial and operational integration and localize value chains. Bahri serves as the Kingdom’s national maritime carrier with a global logistics footprint, while Hadeed is one of Saudi Arabia’s leading national industrial companies in the steel and iron sector.