Bahri Annual Report-2014

Technical Ship Management Mideast Ship Management Ltd., a wholly owned subsidiary of Bahri and based in Dubai, is responsible for the technical Management of the company and its subsidiaries vessels. Mideast Ltd. submits its technical reports on vessel performance, operational status, results of regular inspections, along with its recommendations to Bahri.

 In 2014, two general cargo transportation vessels (i.e. Bahri Jeddah and Bahri Yanbu) were received, and they are now managed by Mideast Ltd.

 In 2014, the remaining four dry bulk vessels (i.e. Bahri Bulk, Bahri Grain, Bahri Wafi, and Bahri Trader) were received. These carriers are owned by Bahri Dry Bulk and currently managed by Mideast Ltd.

 The total number of vessels managed by Mideast Ltd. increased to 49 vessels.

 In 2014, the whole fleet of Vela was received, comprising of 14 double-hull VLCCs, one float storage VLCC and 5 Product Tankers

 As a result of receiving Vela’s fleet, Mideast Ltd. is now managing a fleet of 69 vessels.

 As a result of the increased number of vessels managed by Mideast Ltd., the total ship crew increased to 2000 staff and the office staff increased from 95 to 170

 In 2014, Mideast Ltd. focused on improving efficiency in terms of fuel consumption and operational costs.

 Mideast Ltd. obtained ISO 9001 & 14001 certificate.

 Mideast Ltd. is a member of ITORF (Informal Tanker Owners Marine Human Resources Forum) comprising 60 major ship owners and ship management companies in the world, in order to benchmark salaries and wages of ship crew.

 Mideast Ltd. participates in an annual study conducted by Moore Stephens to measure and compare operational costs of ships with other peers.

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Annual Report 2014

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