The National Shipping Company of Saudi Arabia (Bahri) [4030.SE] and Egypt’s Suez Canal Authority agreed on a strategic alliance that will allow for mutual benefits for both parties. The two entities have agreed to undertake a feasibility study to establish a joint-venture Egypt-based shipping company to transport raw materials and goods to from the new Suez Canal zone. In addition, both parties are studying another JV to service ships passing through the Suez Canal. Bahri will announce any further details in the event of signing of an MoU after concluding feasibility studies. (Tadawul)