HD Hyundai's Saudi JV shipyard wins Bahri order for three VLCCs
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What happened
On October 26, 2026, IMI, a Saudi shipyard backed by HD Hyundai and partners, received a contract from Bahri to build three VLCCs worth about 1.69 billion Saudi riyals. The ships are due for delivery in 2029 and 2030.
Why it matters
The order gives IMI a new large-vessel reference project and extends yard visibility several years ahead. It also shows that a Saudi customer placed a high-value tanker order at the joint venture rather than at an established Northeast Asian export yard.
HD Hyundai's joint venture shipyard in Saudi Arabia, International Maritime Industries (IMI), secured an order from Bahri, the shipping arm of Saudi Aramco, to build three very large crude carriers. The contract is valued at about 1.69 billion Saudi riyals, or roughly 600 billion won, with vessel deliveries scheduled between 2029 and 2030. The order adds to IMI's workload and provides a fresh commercial marker for Korean participation in Saudi Arabia's shipbuilding localization push.
Watch for
International Maritime Industries publication of contract details or yard allocation for the three VLCCs by 2026-10-29 Bahri fleet update or exchange filing clarifying financing, specifications, or delivery slots for the VLCC order by 2026-10-29 HD Hyundai statement on Korean equipment, design, or engineering content tied to the IMI order by 2026-10-29 Saudi Aramco or related procurement disclosure linking the Bahri order to wider maritime localization targets by 2026-10-29
Sources
- 벌크선 이어 VLCC···일감 늘리는 HD현대 사우디 조선소 · sisajournal-e.com