<p data-path-to-node="2"><b data-path-to-node="2" data-index-in-node="0">RIYADH —</b> In a major capital restructuring program supporting the Kingdom’s emerging clean fuel export architecture, the Saudi Ports Authority (Mawani) and the National Shipping Company of Saudi Arabia (Bahri) have successfully finalized a multi-billion-riyal syndicated debt refinancing facility.</p><p data-path-to-node="3">Structured alongside a consortium of leading regional and international financial institutions under the National Transport and Logistics Strategy (NTLS) and Saudi Vision 2030, the transaction releases extensive capital liquidity to finance the immediate commissioning, acquisition, and long-term deployment of advanced liquefied petroleum gas (LPG) and dual-fuel ammonia gas carriers.</p><p data-path-to-node="4">The completed refinancing agreement restructures legacy maritime obligations across long-term credit profiles, driving down borrowing expenses and establishing revolving debt facilities earmarked for specialized fleet renewals. Under the capital allocation mandate, Bahri is accelerating its capital expenditure program to take delivery of modern Very Large Gas Carriers (VLGCs) and specialized mid-sized gas tankers capable of transporting refrigerated ammonia, propane, and butane under extreme pressure and low-temperature parameters.</p><p data-path-to-node="5">The strategic acquisition directly aligns with Saudi Arabia's aggressive scaling of blue and green ammonia production, anchored by mega-developments at NEOM, Jubail, and Yanbu. By securing sovereign, modern gas-carrying tonnage, the Kingdom ensures unbroken maritime export pipelines capable of transporting clean hydrogen carriers directly to key demand centers across the European Union, East Asia, and the wider Asia-Pacific without exposure to speculative spot charter volatility or third-party fleet capacity shortages.</p><p data-path-to-node="6">Beyond fleet ownership, the Mawani-Bahri alliance coordinates dedicated shoreside cryogenic handling infrastructure at industrial gateways along the Red Sea and Arabian Gulf. Mawani is investing in deepwater berths, automated bunkering manifolds, and specialized vapor-return infrastructure at King Fahd Industrial Port in Jubail and Yanbu Industrial Port, enabling the new tanker fleet to achieve rapid, zero-emission turnaround cycles.</p><p data-path-to-node="7">Technically, the new gas carriers incorporate dual-fuel propulsion engines designed to burn LPG, LNG, and ammonia, significantly slashing greenhouse gas emissions, nitrogen oxides (NOx), and particulate matter in compliance with the International Maritime Organization’s (IMO) carbon-intensity targets and regional European mandates.</p><p data-path-to-node="8">Speaking on the closing of the transaction, senior officials from the Ministry of Transport and Logistics Services and Bahri confirmed that the first tranches of the newly commissioned gas carriers will enter commercial operational rotations within upcoming quarters, fortifying the Kingdom's standing as an integrated, low-carbon energy maritime leader connecting three continents.</p>