Saudi Arabia’s state-run shipping company Bahri plans to increase its business in India, encouraged the country’s consistent economic growth and its emphasis on manufacturing, its chief executive said.
“We are very committed now to the Indian market. It’s very hopeful. India’s GDP is about 7%, which is outstanding compared to any other country’s growth. Analysts trust it will be 6%-7% for the next 4-5 years,” Ibrahim Al-Omar added.
The shipping major grips complete transportation for Saudi Arabian national oil business, Aramco and has been related with Indian corporates like Reliance Oil in the crude oil transportation segment. It totals Tata and the Mahindra groups among its breakbulk services clients. Break bulk is a scheme of transporting cargo in separate pieces, ratOmar added that cumulative exports of automobiles and grater motivation on manufacturing bodes fine for the company in India.
Bahri is also the high-class break-bulk carrier for the Ministry of Defence in Saudi and the company is exposed to discovering options like that in India.
Al Omar expressed that while the company has functioned with Indian trades for long over agents, setting up an office would mean better connectivity with its current and possible customers.
Bahri is the second major owner of Very Large Crude Carriers (VLCCs) in the world, and the largest owner of chemical tankers in the Middle East. Presently, the company owns 84 vessels, counting 37 VLCCs, 36 chemical/product tankers, 6 multipurpose vessels, and 5 dry-bulk carriers with further 9 VLCCs on order.