Posted on 03/22/2017 2:57:01 PM PDT by bananaman22
A Saudi logistics company has just opened a Houston office to seize the opportunity to ship increased volumes of oilfield and plant construction equipment to the Port of Houston as the Texas and U.S. drilling activity is gaining momentum.
Bahri Logistics – which had opened its U.S. headquarters in Baltimore back in 1992 – is now opening an office in Houston to take advantage of expected higher demand for oilfield equipment, called breakbulk cargo in the shipping industry: these are large items that need to be loaded and shipped individually rather than in containers.
Bahri, or the National Shipping Company of Saudi Arabia, is 22 percent owned by the Public Investment Fund of the Saudi Government, 20 percent by Saudi Aramco Development Company, and the remainder is held as public shares by Saudi nationals. Its 2016 revenues by segment showed that oil shipping accounted for 72 percent of revenues; general cargo for 13 percent; chemicals, 11 percent; and dry bulk, 4 percent.
(Excerpt) Read more at oilprice.com ...
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