28/09/2017 07:19 AST

Bahri, a global leader in transportation and logistics, and Bolloré Group, a global player in international freight forwarding and logistics, celebrated yesterday the inauguration of BahriBolloré Logistics, the companies’ joint venture.

Bahri owns a 60 percent stake in the joint venture, while Bolloré owns the remaining 40 percent.

Headquartered in Riyadh, Saudi Arabia, BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in Saudi Arabia.

To mark the occasion, BahriBolloré Logistics hosted a special ceremony at The Ritz-Carlton, Riyadh, in the presence of Abdulrahman M. Al-Mofadhi, chairman of Bahri, members of the board of directors, in addition to Cyrille Bolloré, chairman of Bolloré Transport & Logistics; Éric Giraud-Telme, deputy head of mission at the French Embassy in Saudi Arabia, and other senior representatives from both the companies, the diplomatic and military corps, among others.

Al-Mofadhi said: “The success of this joint venture signals the importance of ?collaboration in creating a wider positive impact on the sector. ?It is only through meaningful partnerships and a shared vision that ?the transportation and logistics sector can break new ground and ?explore new horizons of growth.

“Bahri is extremely proud to be playing an active role in ?strengthening the Kingdom’s position as a unique global logistics ?gateway. ?Through this joint venture and other initiatives, we remain ?dedicated to the future growth and development of the ?transportation and logistics industry in the Kingdom,” he added.

“The inauguration of BahriBolloré Logistics will enable us to ?play a significant role in driving an important objective of ?Saudi ?Arabia’s Vision 2030, to further raise the kingdom’s ranking in the ?global logistics market,” said Ali Al-Harbi, acting CEO of Bahri?.

“The joint venture will enable us to deliver high-quality logistics and supply chain management solutions as we combine Bolloré’s global footprint with our industry-leading capabilities and deep understanding of the local market to meet the growing demand for these services in the regional market. In doing so, we are also proud to be playing an integral role in further promoting Saudi Arabia’s credentials as a prominent logistics gateway,” added Al-Harbi.

Bolloré said: “We are particularly honoured to conclude this strategic partnership with Bahri, one of the most recognised logistics players in Saudi Arabia. This development at the heart of a high growth potential region is an important milestone of our global network integration.”

“This alliance is following the development dynamic of Bolloré Logistics in the Middle East region and at the crossroads of Asia, Africa and Europe. Our joint venture with Bahri enable us to promote our expertise of our key sectors, especially in Aerospace, Defense, Oil & Gas, along with Fashion and Healthcare,” added Thierry Ehrenbogen, CEO of Bolloré Logistics.


Trade Arabia

Bahri concludes first edition of ‘SAIFI’ program

07/08/2018

Bahri, a global leader in logistics and transportation, has successfully completed the first edition of ‘SAIFI’, a summer training program for undergraduate students in the Kingdom, launched jointly

Saudi Gazette

Saudi’s Bahri reports 20% profit rise on fleet expansion

29/07/2018

National Shipping Company of Saudi Arabia, or Bahri - one of the world's biggest operators of large oil vessels - posted a 20 per cent year-on-year rise in net profit for the second quarter of 2018,

The National

Bahri adds new VLCC to boost oil fleet strength

10/05/2018

National Shipping Company of Saudi Arabia (Bahri), a leader in logistics and transportation, has taken the delivery of ‘Amad’, a very large crude-oil carrier (VLCC), further enhancing its market-lead

Trade Arabia

Ticker Price Volume
QNBK 175.00 523,282
APPC 53.10 247,824
WALAA 23.90 147,194
EEC 18.24 877,210
SAICO 12.10 183,602
JABALOMAR 39.95 1,131,478
BUPA 100.60 44,019
BAHRI Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
PETRORABIGH 23.16 0.56 (2.47%)
DANA 1.15 0.02 (1.76%)
TAQA 1.14 0.01 (0.88%)
ADNOCDIST 2.38 0.00 (0.00%)
ALDREES 27.30 0.10 (0.36%)
QNB revises up oil price forecast to $72 for 2018

20/09/2018

QNB has revised up its forecasts for average annual oil prices to $72/b for 2018 from $69/b and to $69/b in 2019 from $66/b. Both demand and supply factors, however, suggest a tilt towards lower pric

The Peninsula

QIB wins two awards at New Age Banking Summit

20/09/2018

Qatar Islamic Bank (QIB), country’s leading Islamic bank, received two awards from New Age Banking & Finance Awards 2018, as part of the seventh edition of New Age Banking Summit Qatar which was supp

The Peninsula

Nakilat showcases its expertise at Gastech 2018

20/09/2018

Nakilat is participating in the Gastech 2018 Exhibition and Conference currently taking place in Barcelona, Spain from 17 to 20 September 2018. One of the largest LNG-centric events globally, Gastech

The Peninsula

Al Hilal Bank successfully closes $500m sukuk

20/09/2018

Al Hilal Bank, rated A2 by Moody’s and A+ by Fitch has successfully closed a $500 million 5-year Senior Sukuk. The transaction, under Al Hilal Bank’s new management team, marks the first Senior Publ

The Gulf Today

Sabic, Clariant sign deal for speciality materials

20/09/2018

Sabic, the world’s third largest diversified petrochemicals company, has signed an agreement with Clariant towards taking steps to establish certain elements of its Specialties business as a stand-al

Trade Arabia