Developments in 2023

Bahri Logistics saw several key achievements throughout 2023, enabling us to meet our KPIs for the year. First, we were able to build up our Aerospace vertical in the Kingdom of Saudi Arabia by winning a Saudi Technic’s partial freight forwarding contract. This enabled us to establish a dedicated Aircraft on Ground (AOG) desk for rapid aircrafts spare parts movement from across the globe. We also moved with a fast pace over the contract logistics solutions, establishing multiple storage facilities across the Kingdom of Saudi Arabia with a total area of more than 100,000 sqm. We also onboarded new clients. Under our Perishables vertical, we entered into an agreement with an international client, establishing their entity in the Kingdom of Saudi Arabia to serve high-quality food needs in the market.

In the Industrial vertical, Bahri Logistics won the Saudi Arabia Railways freight forwarding contract, positioning us well towards a full multimodal connectivity.

Under the Hotel Logistics vertical, we won the Boutique freight forwarding contract. This includes the dismantling, packaging, labeling, and transfer of Boutique assets from several palaces to our temperature-controlled warehouse in Riyadh for storage. After the relevant Boutique project is completed, these assets will be transferred back and installed at Boutique luxury hotels.

We expanded our global presence with a back office in India to support our growth strategy. We have also started the construction of a state-of-the-art Bonded Zone facility in Jeddah Islamic Port with a total area of more than 90,000 sqm. The Bonded Zone will offer services for different temperature ranges and will enable local and multinational companies to establish a distribution hub for re-export and import activities in the region.

Several key market trends impacted our performance and operations in 2023. These included the global drop in air and sea freight prices, as well as rising geopolitical tensions in the region, influencing our direction this year. In response, we focused on operating charter flights, expansion warehouses, and delivering new services in different verticals. Furthermore, we implemented “CargoWise One” software as an integrated logistics execution platform, operating globally standardized modules for transport, international freight, customs brokerage, and warehousing. This added to our operational excellence and provided strong tracing capabilities due its global connectivity with airlines and shipping lines. Moreover, “CargoWise One” is integrateable with clients’ and service providers’ systems, creating a new level of seamless customer experience.