Bahri signs deal with Ajlan & Bros to establish new firm in Saudi shipping fleet sector
Date
12/14/2022 12:59:30 AM
(MENAFN) Exporting firm company Bahri has inked a deal with conglomerate Ajlan & Bros to study establishing an additional firm focusing in possessing and functioning a range of vessels.
The two companies inked a memorandum of understanding to start talks on the mutual project on the 12th of December, and have a schedule of six months to reach this goal.
Ajlan & Bros is one of the biggest private industry conglomerates in the Middle East area, with a staff of more than 10,000 people in over 15 nations, while Bahri is a mutual business among Saudi Aramco and the Public investment Fund, functioning a fleet of tankers and container vessel that transport oil, petrochemicals, as well as additional types of cargo.
Below the terms of the deals, Bahri is going to be in charge as the JV firm’s commercial and technical manager. This includes the administration of the JV firm’s fleet of ships, in line with any and all daily commercial and functional management charges, achieved along with the peakiest industry standards.
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