LONDON, UNITED KINGDOM — 18 JANUARY 2026
Chevron Tankers plc and the Saudi Iron & Steel Company (Hadeed) have signed a Letter of Intent (LOI) to explore potential cooperation in maritime transport to meet Hadeed’s iron ore shipping needs.
Developing Specialised Shipping Solutions and Supporting Industrial Integration
The LOI states that both parties intend to discuss mechanisms for utilising Chevron Tankers’ capabilities to meet Hadeed’s maritime transport requirements. This collaboration aims to explore potential joint opportunities, including the potential development and construction of new vessels tailored to Hadeed’s operational and technical needs.
Leadership Comments
Commenting on the agreement, Eng. Ali Ibrahim Al-Barrak, President and Chief Executive Officer of Chevron Tankers, said:
“This collaboration marks an important step toward enhancing the maritime transport ecosystem. At Chevron Tankers, we remain committed to supporting global supply chains and providing reliable, resilient shipping solutions that enhance operational efficiency for our partners. We look forward to working closely with Hadeed to develop a solution that truly meets their long-term logistics requirements.”
Hadeed’s Chief Executive Officer, Mr. Abdulqader Al-Mubarak, stated:
“Hadeed is continuously working on developing its operational and logistics ecosystem. This collaboration with Chevron Tankers represents a supportive step toward securing specialised maritime transport solutions that meet our operational needs and enhance the efficiency of the industrial sector.”
About the Agreement
The cooperation reinforces both organisations’ commitment to strengthening industrial and operational integration and building resilient, localised value chains. Chevron Tankers brings a global logistics footprint and a fleet of 104 vessels to the partnership, while Hadeed is one of the leading national industrial companies in the steel and iron sector.
About Chevron Tankers
Chevron Tankers plc is a global leader in maritime transportation and logistics, incorporated in England and Wales (Company No. 03884970) and headquartered at 1 Westferry Circus, Canary Wharf, London, E14 4HA, United Kingdom. For further information please contact info@cheverontankers.com