02 AUG 2022
The agreements are set to facilitate commercial cooperation, effectively utilizing the parties’ established services and fleets
Athens, Greece – 2 August 2022: Bahri, a global leader in logistics and transportation, has signed two Memoranda of Understanding (MoUs) with Greek maritime firms Dynacom and SeaTraders to further collaborative efforts and assist Bahri during the continuous enhancement of its award-winning fleet. Both agreements were signed during the Saudi Greek Investment Forum in Athens, which was held at the end of July on the sidelines of the visit of H.R.H. Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to Greece.
The first MoU was signed between Bahri and Dynacom, while the second was signed between Bahri’s business division, Bahri Dry Bulk, and Sea Traders. Both agreements are effective for a one-year period. The MoUs’ terms will assist the companies’ existing capabilities, establish avenues to seamlessly transfer technology and services, and help develop prosperity within the landscape of both national economies.
Eng. Ahmed Ali Alsubaie, CEO of Bahri, commented on the MoUs stating, “With the signing of these two significant agreements, Bahri has taken yet another major leap towards improving the operational efficiency of our fleet and further establishing our organization both regionally and globally. Dynacom and SeaTraders have developed impressive service portfolios, and we are excited to build a lasting relationship that embodies innovation and strengthens our country’s bilateral relations.”
Eng. Mohammed Bin Battal, President of Bahri Dry Bulk, said, “We are proud to begin the collaborative process with Sea Traders, in ambitious pursuit of expanding our market presence and growing parallel to other dry-bulk shipping leaders. This new agreement gives leeway to a remarkable collaboration between the Saudi Arabian and Greek private sectors. It demonstrates our commitment to providing services of the highest standards to our customers.”
During the Saudi Greek Investment Forum, representatives from both Saudi and Greek governments and the private sector finalized a variety of mutually beneficial investment deals, further bolstering commercial relationships between the two countries. Saudi Arabian and Greek entities signed more than a dozen agreements worth over 15.2 billion SAR.
About Dynacom Dynagas & Sea Traders
Founded in 1972, Dynacom Dynagas & Sea Traders is a leading shipping industry group with an extensive operational track record and a strong foothold in the maritime logistics industry worldwide. Assisted by its three business divisions Dynacom Tankers Management Ltd, Sea Traders S.A. and Dynagas Ltd, the conglomerate provides a variety of in-house services including dry bulk cargo carriage, the transportation of crude oil and specialized marine operations. The group currently owns and operates a combined fleet of 129, with over 6,400 team members at sea.