IMI signs contract worth about SAR1.69bn to build three crude carriers for Bahri

Saudi Arabia’s International Maritime Industries (IMI) signed a contract worth approximately SAR1.692 billion to build three very large crude carriers (VLCCs) for Bahri. The Saudi Press Agency reported the agreement on 25 October, on the sidelines of the Saudi Maritime and Logistics Congress in Jeddah. This is an announced shipbuilding contract; the vessels have not yet been delivered.

Each of the three ships will have a deadweight tonnage of 320,000. IMI and Bahri said the vessels will incorporate advanced energy-efficiency technologies. SPA’s report did not give fuel-consumption figures, emissions performance or a quantified comparison with existing ships.

Deliveries are scheduled between 2029 and 2030. The approximately SAR1.692 billion value applies to the contract for all three vessels; the source does not specify per-ship cost or payment milestones. The contract value therefore should not be divided into a separate unit price without further information.

IMI Chief Executive Abdullah Al-Ghamdi said the agreement is expected to support the development of Saudi Arabia’s maritime industries and localization of shipbuilding. Bahri Chief Executive Ahmed Alsubaey described fleet modernization as part of the company’s long-term strategy. These statements reflect the executives’ stated objectives and strategic views.

IMI is headquartered in Ras Al-Khair. SPA said that, once fully operational, the shipyard will be able to build six offshore drilling rigs and more than 40 vessels a year, including VLCCs. The company also described annual maintenance and repair capacity for up to 250 vessels and 15 drilling rigs.

The announcement also said the facility’s infrastructure will use technologies including artificial intelligence and biometric indicators. The contract report did not state when the shipyard will reach full capacity or give a separate production start schedule for the three carriers. Its reported scope is the construction of three ships for Bahri, with deliveries planned for 2029–2030.

The shipyard’s stated future capacity should be kept distinct from the scale of this contract. SPA said that, once fully operational, IMI will be able to build more than 40 vessels and six offshore drilling rigs a year, and maintain and repair up to 250 vessels and 15 rigs annually. The announcement gives these as capacities for the facility at full operation but does not say when it will reach that level. The Bahri agreement is a separate contract with a defined scope of three ships and a delivery window.

The report separately said the shipyard infrastructure will incorporate technologies including artificial intelligence and biometric indicators. SPA described these as features of the yard’s infrastructure; it did not say they would be installed on the vessels. The distinction keeps the shipbuilding site’s production technology separate from the energy-efficiency features stated for the ships.