Bahri chops and changes fleet mix

Bahri, Saudi Arabia’s leading shipping line, is accelerating fleet renewal efforts by actively buying and selling vessels. 

Brokers report that the shipping giant has tabled  $101m for two 2021-built, 50,000 dwt sister ships—Maritime Inspiration and Maritime Verity—from Singapore-based IMC Shipping. CSSC Guangzhou Longxue Shipbuilding built both ships. 

In another deal, Bahri reportedly added a six-year-old ultramax bulk carrier, the 63,000 dwt AMIS Miracle, built by Oshima Shipbuilding in Japan in 2018. This vessel was acquired from Taiwanese owner Wisdom Marine for just under $34m. 

On the selling front, Bahri is letting go of the 2002-built, 303,000 dwt VLCC Safwa for just under $31m, marking the first reported VLCC sale of the month. 

Earlier this summer, the company sold another sister VLCC, Marjan, for a slightly higher price. 

In August, Bahri made headlines with a significant $1bn investment to acquire nine VLCCs from Evangelos Marinakis-led Capital Maritime.