Saudi national shipping carrier Bahri recorded a net profit of SR5.09 billion ($1.36 billion) in the third quarter of 2026, representing an 890.7% surge compared to the same period in the prior year, according to Arab News.
The carrier's total revenue grew by 503.7% year on year to SR14.83 billion during the quarter. The sharp financial growth was driven predominantly by the company's oil transport business.
Spot freight rates for very large crude carriers (VLCCs) on the shipping route connecting the Middle East Gulf to China reached a record high of $28.28 per barrel in September 2026. Bahri reported that restricted tanker availability alongside regional security challenges constrained fleet capacity, driving up tanker earnings.
Sources
- Arab News · 2026-10-28
