National Shipping Co of Saudi Arabia 2023 AR2
The report highlights Bahri's outstanding financial and operational performance in 2023, achieving record revenues of SAR 8.8 billion and a 55% growth in net profits to SAR 1.61 billion. The company made significant progress in its fleet renewal and diversification strategies, including entering the gas transportation sector and acquiring eco-friendly Ultramax bulk carriers. In terms of sustainability, Bahri reaffirmed its commitment to a 50% reduction in carbon emissions by 2050, aligning with the International Maritime Organization's greenhouse gas strategy. Additionally, the company successfully implemented the SMARTShip system on 58 vessels to optimize fuel consumption and reduce emissions, while also improving its Saudization rate to 47.5% for onshore operations.
Company: National Shipping Co of Saudi Arabia
Sector: Transport & logistics
Country: Saudi Arabia
Year: 2023
Type: AR2
Pages: 105
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National Shipping Co of Saudi Arabia
Annual Report
The report highlights Bahri's outstanding financial and operational performance in 2023, achieving record revenues of SAR 8.8 billion and a 55% growth in net profits to SAR 1.61 billion. The company made significant progress in its fleet renewal and diversification strategies, including entering the gas transportation sector and acquiring eco-friendly Ultramax bulk carriers. In terms of sustainability, Bahri reaffirmed its commitment to a 50% reduction in carbon emissions by 2050, aligning with the International Maritime Organization's greenhouse gas strategy. Additionally, the company successfully implemented the SMARTShip system on 58 vessels to optimize fuel consumption and reduce emissions, while also improving its Saudization rate to 47.5% for onshore operations.
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Document Details
Report Year
2023
Reporting Period
Jan 1, 2023 - Dec 31, 2023
Fiscal Year
2023
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Energy Consumption
Water Consumption
Total Waste
Workplace Fatalities
Net Zero Target
Employees