Logistics provider Bahri and South Korean shipbuilder Hyundai Heavy Industries have signed a memorandum of understanding to collaborate on “big data” and technological innovation in the maritime industry.
Riyadh-based third-party logistics provider Bahri has signed a memorandum of understanding (MoU) with South Korean shipbuilder Hyundai Heavy Industries (HHI) Group to collaborate on ‘big data’ and technological innovation in the maritime industry, Bahri said in a statement.
The two companies have agreed to cooperate on “a comprehensive business cooperation framework to jointly evaluate the feasibility of launching new long-term projects,” as well as “bolster existing projects that have resulted from their close association over the years,” said Bahri.
“We are excited to collaborate with HHI Group and unearth opportunities that will positively impact the transportation and logistics sector,” Ali Al-Harbi, acting CEO of Bahri, said of the MoU. “As one of the largest ship owners and operators in the world, we have a commitment towards the industry to drive sustainable growth by deploying new and improved technology, harnessing data and insights, and making the system more efficient than ever before.”
“This strategic undertaking with HHI Group opens up several possibilities, including using Big Data technology to generate higher revenues and ensuring improved client satisfaction through real-time data and analysis,” added Anwar Siddiqui, head of Bahri Data.
The collaboration discussions were first broached when a delegation from Bahri visited HHI Group in February for the naming ceremony of Bahri’s new 300,000 DWT Very Large Crude Carrier (VLCC), Amjad.
The two firms have previously worked together in overseeing the delivery of 34 vessels as well as the construction and operation of a maritime yard in Saudi Arabia with Saudi Arabian Oil Company (Saudi Aramco) and Maritime Offshore Limited (Lamprell), which will produce commercial vessels, offshore service vessels and jack-up rigs, according to Bahri.
Bahri, Hyundai Heavy to partner on ‘big data’ initiative
