Saudi shipping company Bahri has contracted International Maritime Industries (IMI) to build three very large crude carriers (VLCC) in Saudi Arabia.
The agreement, announced on Sunday, October 25, is valued at approximately SAR1.692 billion ($451.2 million).
Each VLCC will have a deadweight tonnage of 320,000. Bahri said the vessels will feature energy-efficiency technologies and will be delivered in phases between 2029 and 2030.
The company said the contract forms part of its fleet modernisation strategy.
It also brings Bahri's orders for Saudi-built vessels to nine, including six geared Ultramax bulk carriers that it ordered from IMI in October 2025. Those bulkers are expected to be delivered between 2028 and 2029.
IMI is a joint venture between Saudi Aramco, Bahri, Lamprell, and Hyundai Heavy Industries.
Once fully operational, its shipyard is planned to build more than 40 new vessels per year, including VLCCs, as well as six offshore drilling rigs. It will also handle maintenance and repair work on up to 250 vessels and 15 rigs annually.
Bahri owned 49 vessels in its oil business at the end of June 2026.