93 Days
Source:
الاقتصادية
Source: الاقتصادية
93 Daysالاقتصادية
Source: الاقتصادية
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The Saudi National Shipping Company "Bahri" achieved record profits during the second quarter of 2026, driven by rising oil freight rates resulting from geopolitical disruptions and a shortage of available vessels. Revenues reached 6.31 billion SAR, a 156% increase year-over-year, with net profit for shareholders amounting to 2.75 billion SAR, a rise of 574%. Despite disturbances in the Strait of Hormuz, the company was able to operate its entire fleet of 107 vessels and primarily benefited from increased demand and freight rates in the oil transportation sector, which accounted for about three-quarters of its revenue. The company also resumed chartering additional vessels to expand its capacities, leading to a historic profit margin of 44%. Additionally, it managed to reduce its debt by one-third and convert most of its profits into liquidity. The fleet expansion plan continues with the delivery of new vessels, although the company remains cautious about the potential decline in freight rates amid market stabilization.
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