Saudi Arabia Launches First Large-Scale Shipbuilding Project with Bahri-IMI Deal

yard. Valued at approximately SAR 762 million (USD 203–206 million), the agreement aims to deliver the ships between 2028 and 2029. The new 62,823 dwt Ultramax vessels will enable Bahri to serve ports with limited infrastructure, expanding access to niche trade routes. IMI, supported by Saudi Aramco, Bahri, Lamprell, and Hyundai Heavy Industries, is positioning Saudi Arabia as an emerging player in global shipbuilding. Bahri CEO Eng. Ahmed Ali Al-Subaey called the deal a 'defining moment' that aligns with the Kingdom’s Vision 2030 to localize supply chains and create a globally competitive maritime industry.