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Annual Report 2018
Bahri Dry Bulk (BDB) was established in 2010 under a joint venture agreement between Bahri and the Arabian Agricultural Services Company (ARASCO), with Bahri owning 60 percent and ARASCO owning 40 percent. The partnership offers a wide array of assets that effectively provide supply chain management services while maintaining the highest degree of expertise in ship management. Bahri Dry Bulk owns and manages a fleet of single-hulled dry bulk carriers Bahri Dry Bulk
that offer high fuel consumption efficiency and the capability to optimize their operational costs, leading to higher revenues. The Company is Saudi Arabia’s national shipping operator for dry bulk cargoes, including grain, coal, iron ore, phosphate and sulfur. We also have a diversified portfolio that includes regional clientele signed under firm and long-term shipping partnerships and which comprise regional and global cargo owners. Additionally, the Company launched many initiatives to increase market share and boost its
current cargo volume to more than 6 million tons by 2019/2020, as well as widening its footprint regionally and globally. As part of its ongoing business growth strategy, Bahri Dry Bulk focuses on all international markets that have the potential to provide the Company with access to key business regions such as Egypt and Morocco, as well as Asian countries such as China, India and Indonesia.
Bahri Dry Bulk recorded many achievements in terms of increasing market share, as outlined below: Business Results and Achievements
BahriBunge was established in 2017 under a joint-venture agreement between Bahri Dry Bulk and Dutch firm Koninklijke Bunge B.V. (Bunge) for dry bulk carriers, a wholly-owned subsidiary of Bunge Limited, which is a global agribusiness and food company. Under the joint venture, Bahri would own a 60-percent stake and the remaining 40 percent owned by Bunge. The venture is managed primarily from Dubai, UAE, with an office in Cairo, Egypt. BahriBunge has cultivated a wide • Bahri Dry Bulk recorded higher revenue levels compared to previous years as a result of its efforts to increase its share of a growing market and build new business relations through long- term partnerships and contracts with agents, government traders, ship owners and international charterers. • The Company announced an expansion plan to build four new carriers designed according to the latest international technical specifications. The vessels are to be delivered and added to the Company’s current fleet by 2020.
• The Company is working with BahriBunge Dry Bulk Ltd., a joint venture in which Bahri Dry Bulk owns a 60-percent stake and the remaining 40 percent owned by Bunge. The Company is regarded as the best provider and operator in the Middle East for facilitating the flow of imported and exported dry bulk cargo shipments. • Exports increased to 6 million tons. • Our storage units held 11 types of dry bulk cargo. • Around 485,000 tons of goods were imported for the Saudi Grains Organization (SAGO) – 25 network of regional customers. It also has well-established and long-term partnerships with major ship and cargo owners regionally and globally. The Company has launched many strategic initiatives to increase its presence in the market and boost its current cargo volume to more than 6 million tons by 2019/2020, as well as increasing its regional and global reach. The Company has made every effort to increase its market share and build new business relations via long-term
percent barley and 75 percent wheat/grain. • A contract to ship 1 million tons of cargo was signed in 2019. • A contract was signed with a company to transport 13 shipments via two trade routes, from King Abdullah Port to Bangladesh and Japan and from the same port to the United Arab Emirates. • A contract was signed with a company to transport six shipments via the Australia – UAE route.
World-class capabilities
Transparency when conducting operations
Representative offices and agents around the world
Constant annual financial growth
BahriBunge Dry Bulk Ltd.
partnerships and contracts with agents, government traders, ship owners and international charterers. As part of its ongoing business growth strategy, BahriBunge focuses on all international markets that have the potential to provide the Company with access to key business regions domestically and in the GCC and Africa. These markets include Egypt, Morocco and Asian countries such as China, India and Indonesia.
Integrated team of experts in trade and operation
Sound cash flow to support business expansion initiatives
Consulting studies being conducted with global organizations into the Group’s strategy
Growing base of clients, including more than 35 major global companies
Membership of the central M5 group
Operation of the IMOS business unit
Membership of the Baltic and Singapore Exchange for market value accounting or fair value accounting
Operation of the voyage management systems DA- Desk and IMOS for ports management
Engages in business exchanges for forward freight agreements (FFA)
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