Saudi's Bahri, Petredec build alliance for LPG and ammonia shipping
The two companies, both leaders in their respective fields, will establish a dedicated joint commercial team, led by Bahri Oil and Petredec.
Building on nearly two decades of collaboration, this partnership represents a new chapter in the long-standing relationship between Petredec and Bahri. Bahri's 40% shareholding in Petredec, combined with Petredec's world-class LPG logistics and value chain platform, creates a strong foundation to meet increasing regional and global demand for LPG and ammonia transportation, said a statement.
Giles Fearn, CEO of the Petredec Group, commented: 'For two decades, our relationship with Bahri has been built on mutual trust and shared objectives. It has been both productive and a pleasure to work with Bahri as both a shareholder and fellow director. This partnership is a natural progression, combining our respective strengths to meet Saudi Arabia's growing LPG and ammonia shipping needs. I look forward to our extended collaboration with Bahri as it broadens its role within the LPG sector.'
Commenting on the significance of the strategic partnership, Eng Ahmed Ali Al Subaey, CEO of Bahri, said: 'This strategic alliance with Petredec builds on two decades of partnership and underscores Bahri's commitment to meeting Saudi Arabia's growing demand for LPG and ammonia shipping solutions. Bahri will establish an in-house LPG team within Bahri Oil to target all future Saudi Arabian LPG and ammonia shipping requirements.
'By combining Bahri's global expertise with Petredec's renowned leadership in LPG and logistics platform, we aim to strengthen our presence in these critical markets. This initiative reflects our dedication to advancing the Kingdom's Vision 2030 goals of enhancing economic growth and establishing Saudi Arabia as a global logistics hub.'
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