Saudi's Bahri Says Q1 Net Profit More Than Doubles - Gulf Business
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Saudi’s Bahri Says Q1 Net Profit More Than Doubles

Saudi’s Bahri Says Q1 Net Profit More Than Doubles

It attributed the rise to an increase in its fleet of very large crude carriers to 31 from 17.

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil shipper for Saudi Aramco, more than doubled its first-quarter net profit, according to a statement on Thursday.

The company’s profit for the three months to March 31 was SAR399 million ($106.4 million) compared to SAR195.1 million in the same period a year earlier, it said.

It attributed the rise to an increase in its fleet of very large crude carriers to 31 from 17, and full employment of its carriers during the quarter.

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