Bahri Profit surged during the second quarter of 2026 as Saudi Arabia’s national shipping company benefited from stronger oil transportation demand. The company also recorded higher leasing activity and improved cash generation during the period.
The shipping operator delivered significantly stronger financial results compared with the same period last year. Rising freight rates and increased customer demand supported revenue and earnings growth.
Bahri announced that net profit reached SAR2.7 billion during the three months ending in June 2026. That result represented a 574 percent increase from the same quarter in 2025.
Revenue also posted impressive growth during the quarter. Total revenue climbed 156 percent to SAR6.3 billion as shipping activity expanded across several business segments.
The company’s crude oil transportation division remained the strongest contributor to overall performance. Revenue from Bahri Oil increased by 266 percent compared with the previous year.
Higher freight rates played a major role in boosting earnings. Regional market disruptions also reduced vessel availability, creating stronger demand for oil tankers.
As a result, shipping companies secured higher transportation rates throughout the quarter. Bahri benefited from those market conditions while maintaining strong fleet utilization.
The company also expanded its charter-in operations. Leasing additional vessels allowed Bahri to meet rising customer requirements without interrupting service.
Management stated that the entire fleet remained commercially active throughout the second quarter. Operations continued despite challenging market conditions across the Arabian Gulf.
Bahri’s fleet totaled 107 vessels at the end of June. The company continued serving customers across global energy transportation markets.
The first half of 2026 also produced strong financial results. Net profit increased by 421 percent during the six-month period.
Revenue for the first half matched the second-quarter trend. Total sales rose 156 percent compared with the same period last year.
Cash generation also improved considerably during the reporting period. Free cash flow reached SAR3.3 billion after recording a negative balance one year earlier.
The stronger cash position reflected healthier operating performance. In addition, the company completed the sale of a crude oil transportation vessel.
The vessel sale generated approximately SAR215 million. That transaction further strengthened Bahri’s overall financial position.
Debt levels also moved lower during the first half of the year. Net debt declined to SAR6.6 billion by the end of June.
At the end of December 2025, net debt stood at SAR9.3 billion. The reduction highlights stronger balance sheet management alongside rising profitability.
Industry conditions continued supporting tanker operators throughout the quarter. Regional geopolitical developments tightened vessel availability across several shipping routes.
Limited tanker supply combined with strong customer demand created favorable freight market conditions. Those factors supported higher earnings for shipping companies.
Investors also continued monitoring Bahri’s market performance. The company’s shares closed slightly lower at SAR33.20 during the latest trading session.
Despite that daily decline, the stock has gained around 15 percent since the beginning of 2026. The share performance reflects improving investor confidence in the company’s outlook.
Bahri remains one of Saudi Arabia’s leading maritime transport companies. The business plays an important role in supporting global crude oil logistics.
Major Saudi investors continue holding significant ownership stakes in the company. The Public Investment Fund owns approximately 22 percent of Bahri. Saudi Aramco also holds around a 20 percent stake.
Looking ahead, Bahri expects to continue benefiting from healthy demand across energy shipping markets. Freight rates, fleet utilization, and regional market conditions will remain important drivers of future performance. Bahri Profit reflects the company’s ability to capitalize on favorable shipping conditions while strengthening its financial position. Bahri Profit could remain supported if global demand for crude transportation continues at current levels.
