The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with Hyundai Heavy Industries (HHI) Group to harness Big Data and technological innovation in the maritime industry.
HHI Group is the world’s largest shipbuilding group with extensive experience in ship construction and shipyard management.
The two parties signed a Memorandum of Understanding (MoU) that lays out a comprehensive business cooperation framework to jointly evaluate the feasibility of launching new long-term projects, while at the same time bolster existing projects that have resulted from their close association over the years.
Bahri was represented by its Acting CEO, Ali Al-Harbi, and Bahri Data, a global leader in data-driven efficiencies that is making pioneering moves in the usage of Big Data and advanced analytics in the maritime industry. Representatives from Bahri Ship Management also attended the signing ceremony.
The ceremony, which took place at Bahri’s headquarters in Riyadh, was presided by Eng. Abdulrahman Mohammed Al-Mofadhi, Chairman, Bahri, and Mr. Chung Ki-sun, Executive Vice President of Corporate Planning for HHI Group, who was accompanied by Mr. Kwang-Hean An, CEO of Hyundai Global Service (HGS), the service company of HHI Group.
The discussions of collaboration were initiated when a delegation from Bahri visited HHI Group in February this year for the naming ceremony of Bahri’s recently delivered ‘AMJAD’, a 300,000 DWT Very Large Crude Carrier (VLCC). With the new Big Data division launched in 2016, the company saw HHI Group as a potential partner considering its extensive experience and impressive record in shipbuilding.