Saudi Bahri Co. logs USD136m net profit in Q3

09 Oct 2015

(MENAFN) Bahri, the Saudi-based National Shipping Company, which is the exclusive oil-shipper for Saudi Aramco has registered a high USD136.1 million net profit in the three months to September.

The posted profit is up from 22.6 million posted in last year’s same timeframe, which marks a significant jump, attributed mainly to the growth in the firm’s very large crude carriers (VLCC) fleet.

The shipping corporation is one of five stocks which are not open to direct purchase by foreign investors under any circumstance after the Kingdom opened its bourse for the first time on June 15.

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