Bahri Optimistic of Oil Tanker Market

Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors.

News ID: 77320

Date: 20 November 2017 - 15:30

He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week, MANA correspondent reported.

John ‎Angelicoussis, Chairman of Angelicoussis Shipping Group Limited, said: “Markets where the population is high and where there is a very high GDP growth, for instance China and India, are markets that are immensely helping our industry. These countries need more oil and they are far away from reaching the levels we are consuming in the region.”

“The Bahri Oil Transportation Forum provides us with a strategic networking opportunity to connect with key stakeholders and jointly share our views on our outlook for the industry. As market leaders, we consider it among our top priorities to lead the dialogue on industry trends, impact, and opportunities. We are proud to see the success of the event in being recognized as the voice of the oil tanker market that is dedicated to facilitating an open discussion on our achievements as well as shortcomings, and exploring ways to overcome them,” said Ali Al-Harbi, Acting CEO of Bahri.

“As the world’s largest owner and operator of Very Large Crude Carriers (VLCCs) and a market leader in the tanker sector, we are committed to leading the discussion on the next phase of growth in the maritime industry while strengthening Saudi Arabia’s position as a regional logistics hub as outlined in the Saudi Vision 2030. The global oil tanker market is going through a significant phase and it is up to us – as industry players – to come together and look for innovative ways to address the most pressing challenges and explore new opportunities that would enable us to become more resilient in a rapidly changing global economic environment,” said Naser M. Al-Abdulkareem, President of Bahri Oil.