BahriBunge JV opens offices in Dubai

BahriBunge Dry Bulk Ltd., a newly formed joint venture between Bahri Dry Bulk Company and Koninklijke Bunge B.V. of Netherlands, has opened offices in Dubai.

The freight transporter said in a statement that it plans to ship over five million metric tons of dry bulk commodities in its first year.

It will also increase the import and export of dry bulk goods and ocean freight material in and out of the Middle East while strengthening the operations of Bahri Dry Bulk, a business unit within Bahri.

In February, Bahri Dry Bulk Co., a 60 percent owned subsidiary of Saudi-listed Bahri,  said its 60 percent owned subsidiary Bahri Dry Bulk Co. (BDB) set up the JV with Koninklijke Bunge with a planned capital of up to $35 million.