A historic moment for Saudi Arabia – The construction of the first oceangoing vessels begins, marking a new era for its shipbuilding industry.
A significant day dawned for the Kingdom of Saudi Arabia and its shipbuilding industry, as the country’s leading maritime services provider Bahri announced its first order for six dry bulk carrier vessels from International Maritime Industries (IMI).
This agreement is considered a milestone, because for the first time, vessels of this size will be built on Saudi territory, something that clearly shows the Kingdom’s intention to stand on its own feet in the shipbuilding industry.
It is a step that falls under Vision 2030, aiming to diversify the economy beyond oil and develop a competitive maritime ecosystem.
Those of us who have visited Saudi Arabia by ship know well that the country never had the reputation of a shipbuilding power. To now see it entering the game of oceangoing vessels shows that things are changing radically in the Middle East.
It is not by chance, after all, that Saudi Arabia is starting to invest in the sea. They say oil is running out, and the Saudis have realized that investing in the sea is something indelible. It will last forever.
The new Ultramax-type vessels will be built at the IMI shipyard in Ras Al-Khair, which is considered the largest and most modern in the region. They will have the capability to approach ports with limited infrastructure, which will give Bahri the ability to expand its trade routes to new and difficult markets.
In short, the company is strengthening its position at a time when competition in shipping is fierce and relentless.
The CEO of Bahri, Ahmed Ali Al-Subaey, stated that “this is a strategic step for Bahri and the entire country’s shipping industry.” On the other hand, the head of IMI, Abdullah Al-Ghamdi, noted that this collaboration “will help Saudi Arabia build a new era in shipbuilding, with world-class vessels built in the country.”
As everything indicates, Saudi Arabia is attempting to “set sail” into a new era. From an oil country, it aims to gradually become a country of technology, innovation, and, as it seems, also of shipbuilding.
Of course, there are many countries that tried to enter the field of shipbuilding industry from scratch and ultimately failed. It is not easy. It requires expertise, political will, and of course funding.
The big difference between Saudi Arabia and the other countries is that it has a lot of money to achieve its goals.
The question is whether it can also build the culture that such an industry requires, and whether it will succeed in becoming a real player in international shipping, time will tell.
