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Bahri records record-breaking profits
Saudi Arabian shipping and transportation company, Bahri, achieved a net profit of SAR 2.75 billion in the second quarter of 2026, up 574% year-on-year, on revenues of SAR 6.31 billion, which were 156% higher. Net profit for the first half of the year reached SAR 4.90 billion, an increase of 421% compared with the same period last year.
These extraordinary figures were driven primarily by Bahri’s crude oil transport business, which benefited from significantly higher freight rates and increased charter-in activity to meet higher customer demand. Bahri’s chemicals and product tanker services, dry bulk operations, logistics and marine services divisions also contributed to positive growth over these three months.
During the period, Bahri continued to progress its fleet expansion and modernisation program, acquiring five chemical tankers, four of which entered full commercial operations, while also divesting an older Very Large Crude Carrier (VLCC). This brought Bahri’s owned fleet to a record 107 vessels as of the end of June 2026.
Following the end of the second quarter, the company signed a further contract to build two new dual fuel LNG container and roll-on/roll-off (RoCon) vessels, increasing its newbuild orderbook to 12 vessels, all of which are scheduled for delivery between 2026 and 2030. The RoCon vessels will be constructed at Jingling Shipyard in China and will deliver substantially increased cargo capacity and improved cargo flexibility, alongside higher container stack capacity, enabling the transportation of larger and more diverse cargo volumes. Additional hoistable decks will further enhance vehicle and rolling cargo capacity, providing greater adaptability to accommodate a wide range of cargo types.
Meanwhile the Bahri business unit, Bahri Logistics, has expanded its ship agency operations with the opening of two new offices at Yanbu Commercial and Industrial Ports and Ras Tanura Industrial Port. The expansion strengthens the company’s operational presence at some of the Kingdom’s most strategically important ports serving the energy sector, complementing its existing operations at Jubail Commercial and Industrial Ports, Ras Al-Khair Port, Jeddah Islamic Port, King Abdullah Port, and King Abdulaziz Port in Dammam.
By expanding its presence in both the western region along the Red Sea coast and the eastern region along the Arabian Gulf, the company says it is further enhancing its ability to provide faster and more efficient support to customers across the oil and gas and industrial sectors.
