National Shipping Company of Saudi Arabia (Bahri) and Suez Canal Authority (SCA) have decided to further support the maritime transport development between Saudi Arabia and Egypt and study a potential joint shipping company.
On March 11, the duo renewed the agreement aimed at facilitating seaborne transport across the Suez Canal.
The memorandum of agreement has been inked by Abdullah Aldubaikhi, Bahri’s CEO and Mohab Mameesh, Chairman and Managing Director of SCA.
In addition, the agreement includes a study of the establishment of a joint Egyptian-Saudi shipping company represented by SCA and Bahri. To be headquartered in Egypt, the company would be focused on transporting all kinds of cargo to fulfill Egypt’s needs.
Furthermore, the deal includes the study of another JV company providing integrated marine services for vessels crossing the canal. Back in 2016, Bahri and SCA started to explore possibilities on forming such a company.
World Maritime News Staff