Bahri Annual Report- 2018



Annual Report 2018

Bahri Chemicals Fleet

Fuel-Saving Initiatives

Bahri launched a series of fuel-saving initiatives over the last two years that have helped in reducing daily fuel consumption average by more than

three metric tons per ship. These initiatives include:

16 tankers

6 tankers

MR petroleum products tankers. Capacity: 50,000 DWT. Chartered by Saudi Aramco 5 tankers

made to the highest specification and from stainless steel. 3 tankers

1 tanker

31 tankers

IMO II chemical tankers. Capacity: 46,000 DWT. Working as part of the direct delivery fleet / COA

IMO II MR chemical tankers. Capacity:

IMO II LR chemical tanker. Capacity:

• Close monitoring of operations to ensure optimal speed at all times • Programs to forecast the weather in and around the coasts and determine the most efficient routes • A new type of body coating on our ships that contributed to fuel reductions • Investment in different onboard fuel-saving equipment

46,000 DWT. Chartered by SABIC.

83,000 DWT. Chartered by SABIC.

Future Prospects Bahri is pushing forward with exploring potential strategic partnerships. One of our main priorities is to increase our international presence, expand the scope of our service offerings and focus on investment in assets, initiatives and programs to ensure the delivery of high-quality services to our clients. The market’s potential recovery over the short and medium terms will depend on its ability to absorb supply growth over the last few years. The current rate of new orders has remained at a stable level – a good reason to be optimistic in 2019-2021

and beyond. As witnessed in 2018, the trend towards mergers has begun to dominate the chemical shipping sector. This is expected to continue in 2019, leading to new competitive dynamics. Additionally, new sulfur reduction regulations from the International Maritime Organization (IMO) will come into effect from 2020 and are expected to impact the financial performance of the maritime shipping industry. Other factors include increased fuel consumption expenses and shipping prices.

Fleet Strategy Our ships continue to develop a reputation for upholding the highest safety and security standards, and are among the most secure high- quality chemical tankers in the world

today. The Company constantly aims to grow its MRO MR fleet through partnerships, acquisitions and building our own new ships and growing our transportation bases. Our aim is to

continue developing our fleet and meet the needs of our partners regionally and globally including SABIC and Saudi Aramco.

Aspirations and Challenges

Bahri Chemicals’ strong performance has been evident in 2018 compared to its competitors. Our success was achieved through a sustained focus on optimization, performance and efficiency. The Company optimized its assets and maintained its firm position in key sectors including CPP and vegetable oils, ensuring our ships are constantly returning with new cargo.

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