Two of Greek shipowner George Procopiou’s companies have signed memorandums of understanding with Saudi Arabian shipping giant Bahri that they claim will lead to “a remarkable collaboration between the Saudi Arabian and Greek private sectors”.

The agreements between Bahri and Dynacom, and Bahri Dry Bulk and Procopiou’s bulker company Sea Traders, covering both the tanker and bulker sectors, were signed on the sidelines of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud’s recent visit to Greece, the two companies said on Tuesday evening.