The National Shipping Company of Saudi Arabia, known as Bahri, reported a record second-quarter performance after benefiting from stronger pricing in the freight market. The company said net profit for Q2 reached SAR 2.75 billion, or about $731.9 million, marking a sharp 574% increase from a year earlier.
Bahri linked the surge in earnings to higher freight rates and increased vessel chartering activity. The company said those factors helped it meet growing customer demand, pointing to a stronger operating environment for the Saudi oil shipper during the quarter.
The results highlight how shipping companies can benefit when transport costs rise and fleet use increases. For Bahri, the combination of better freight pricing and more chartering work appears to have driven one of the strongest quarters in the company’s history.
The new profit record also underlines Bahri’s importance in Saudi Arabia’s shipping and energy transport sector. With demand remaining firm enough to support additional chartering activity, the company’s latest earnings show how market conditions translated into a major quarterly gain.
