National Shipping Company of Saudi Arabia, or Bahri, a shipping and logistics company part-owned by the kingdom’s Public Investment Fund, has joined forces with National Gas and Industrialisation Company (Gasco) to boost the distribution of liquefied petroleum gas within Saudi Arabia.
Under the agreement, both entities will explore co-operative means to set up a company that will offer land transport and logistics services to enhance the distribution network of LPG, Bahrai said in a statement on Tuesday.
Riyadh-headquartered Gasco, which distributes and retails LPG, is involved in the transport, filling and marketing of LPG — both butane and propane gases.
“Leveraging the expertise of both of our companies, we are delighted to begin forming a company that will provide industry-leading services and embodies operational excellence,” Soror Basalom, president of Bahri Logistics, said.
“We look forward to establishing a company that can provide great services to our clients, advance Saudi Arabia’s long-term economic growth and contribute to the objectives of Vision 2030.”
Demand for refined products is growing worldwide. LPG is used mainly as a cooking fuel stored in cylinders for stoves, as well as a propellant, refrigerant, for vehicle fuel and as feedstock for the petrochemicals industry.
PIF, one of the world's largest sovereign wealth funds, is a major shareholder in the Bahri-Gasco agreement.
The fund holds 22.55 per cent of ownership shares within Bahri and 10.91 per cent of shares within Gasco as per the date of the agreement.
Established in 1978, Bahri plays a key role in realising kingdom’s Vision 2030 by expanding its services and presence across the world, enabling the opening of trade routes and positioning the country as a regional logistics gateway from continent to continent.
With offices in Saudi Arabia, the UAE, the US and India, Bahri is one of the largest global owners and operators of Very Large Crude Carriers (VLCCs), and one of the largest owners of chemical tankers in the Middle East.
It owns and operates 93 vessels, including 42 VLCCs, 26 chemical and 10 product tankers and nine dry bulk carriers, serving 150 ports.
Last month, Bahri Logistics partnered with Mosolf Group, one of the leading system service providers for the automotive industry in Europe, to develop an automotive logistics framework initially focused on Saudi Arabia, with plans to expand across the GCC.
Heather, the Totality
Matthew Weiner,
Canongate
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
All Black 39-12 British & Irish Lions
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The biog
Birthday: February 22, 1956
Born: Madahha near Chittagong, Bangladesh
Arrived in UAE: 1978
Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.
Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”
UAE currency: the story behind the money in your pockets
About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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Teaching in coronavirus times
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Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
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Engine: 2.0-litre 4-cyl turbo
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EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
Volunteers offer workers a lifeline
Community volunteers have swung into action delivering food packages and toiletries to the men.
When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.
Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.
Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.
“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.
Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.
“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.
RESULTS
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LA LIGA FIXTURES
Friday (UAE kick-off times)
Levante v Real Mallorca (12am)
Leganes v Barcelona (4pm)
Real Betis v Valencia (7pm)
Granada v Atletico Madrid (9.30pm)
Sunday
Real Madrid v Real Sociedad (12am)
Espanyol v Getafe (3pm)
Osasuna v Athletic Bilbao (5pm)
Eibar v Alaves (7pm)
Villarreal v Celta Vigo (9.30pm)
Monday
Real Valladolid v Sevilla (12am)
Friday's schedule in Madrid
Men's quarter-finals
Novak Djokivic (1) v Marin Cilic (9) from 2pm UAE time
Roger Federer (4) v Dominic Thiem (5) from 7pm
Stefanos Tsitsipas (8) v Alexander Zverev (3) from 9.30pm
Stan Wawrinka v Rafael Nadal (2) from 11.30pm
Women's semi-finals
Belinda Bencic v Simona Halep (3) from 4.30pm
Sloane Stephens (8) v Kiki Bertens (7) from 10pm
