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 Announces that it received a Very Large Crude Carrier


Bahri announces that it has received On Monday 22 January 2018 G a new VLCC that was named (Kassab). The newly received VLCC is one of the 5 VLCCs that were financed by Standard Chartered Bank, Arab


Bahri gets $96m funding for 4 new bulk carriers


Bahri Dry Bulk, a business unit of global logistics leader Bahri, has secured a Sharia-compliant funding of SR360 million ($96 million) from Saudi Arabia-based Bank Albilad to finance the purchase of

Trade Arabia

Bahri announces its intention to sell part of its stake in Petredec


The National Shipping Company of Saudi Arabia (Bahri) announces the commencement of the process to sell part of its 30.3% stake in Petredec Limited, a company based in Bermuda specialized in transpor


Ticker Price Volume
SABIC 112.76 5,780,764
ALMARAI 54.43 842,171
STC 81.81 724,186
JARIR 190.97 81,922
EEC 15.20 2,039,089
BURUJ 34.26 41,241
PETRORABIGH 24.90 1,971,650
BAHRI Sector Market
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 24.90 0.15 (0.60%)
DANA 0.84 0.09 (12.00%)
TAQA 0.77 0.05 (6.94%)
ADNOCDIST 2.63 -0.02 (-0.76%)
ALDREES 26.55 0.01 (0.03%)
Al-Falih: Aramco IPO could still happen in 2018


Saudi Arabia may still move forward with an initial public offering (IPO) for state oil company Saudi Aramco on an international exchange such as London or New York in the second half of 2018, despit

Saudi Gazette

Emirates NBD closes in on Denizbank acquisition


Emirates NBD could agree to buy Turkey’s Denizbank within weeks, after intense lobbying by the Turkish bank to convince President Tayyip Erdogan of the benefits of the potential $5.3 billion deal.

Arab News

Saudi Aramco may create employee shareholders says US think tank


Saudi Aramco could grant shares to employees in any forthcoming initial public offering, according to an analysis of the company charter it adopted at the beginning of the year.

The new cha

Arab News

Abu Dhabi's Aldar raises foreign ownership limit to 49%


The shareholders of Aldar Properties have approved raising its foreign ownership limit by 9 per cent, allowing foreigners to own up to 49 per cent of Abu Dhabi’s biggest-listed developer, the company

The National

Zain Group supports Kuwait Investment Forum 2018


Zain, the leading telecommunications network in Kuwait supported the Kuwait Investment Forum 2018 (KIF 2018), that was held under the patronage and in the presence of His Highness the Amir Sheikh Sab

Arab Times