Riyadh - Mubasher: The National Shipping Company of Saudi Arabia (Bahri) completed the establishment of two firms in the third quarter of 2017, one in Saudi Arabia and the other in the UAE.

Bahri Dry Bulk Company, Bahri’s subsidiary, established a Dubai based a joint venture (JV) firm in partnership with Netherland’s Koninklijke Bunge, with a capital of SAR 18.7 million, according to the company’s board report for the period that ended 30 September.

The new dry bulk joint venture is 60% owned by Bahri, while the Dutch company owns the remaining 40% stake.

Another joint venture was founded by Bahri in Saudi Arabia with the French company Bollore Logistics, with a capital of SAR 15 million, with the same division of ownership.

The logistics company is engaged in total logistics services which include brokerage in freight forwarding and transportation and provide all services linked to the supply chain.