A SAR 1.692 billion contract to build three crude oil tankers in the Kingdom, each with a capacity of 320,000 tons, brings the total number of vessels contracted for local construction for Bahri to nine.

Riyadh | October 25, 2026

BETH News Agency

International Maritime Industries (IMI) has signed a SAR 1.692 billion ($451 million) contract with the National Shipping Company of Saudi Arabia (Bahri) to build three very large crude oil tankers (VLCCs) in the Kingdom, in a move that strengthens the localization of shipbuilding and expands Saudi industrial capabilities.

Each tanker will have a deadweight capacity of 320,000 tons, bringing the combined capacity of the three vessels to 960,000 tons. The tankers are scheduled for delivery in stages during 2029 and 2030 and will be equipped with advanced technologies to improve energy efficiency.

The agreement increases the total number of vessels contracted for local construction for Bahri to nine, comprising six bulk carriers and three very large crude oil tankers.

The tankers will be built at the King Salman International Complex for Maritime Industries and Services in Ras Al-Khair, one of the Kingdom's strategic industrial projects aimed at localizing shipbuilding and maintenance and developing supply chains and engineering and technical expertise.

Bahri stated that it will finance the contract through its internal cash resources and bank facilities, with the financial impact expected to appear after the tankers are delivered and begin commercial operations.

The significance of the contract goes beyond adding new vessels to the Saudi fleet. It strengthens the construction of giant oil tankers within the Kingdom and increases domestic demand for maritime services and equipment, supporting Vision 2030 objectives to localize advanced industries and diversify the economy.