The National Shipping Company of Saudi Arabia (Bahri) said net profit for the third quarter of 2026 rose 891% to SR5.09 billion from SR513.4 million a year earlier, as higher global freight rates lifted earnings across its businesses.
Quarterly revenue rose 504% to SR14.83 billion from SR2.46 billion, according to figures compiled by Argaam from the company’s filing with the Saudi Exchange.
Net profit rose 85% from SR2.75 billion in the second quarter. Earnings per share for the quarter were SR5.51, compared with SR0.56 a year earlier.
For the nine months to September 30, net profit reached SR9.98 billion, compared with SR1.45 billion in the same period of 2025. Revenue rose 268% to SR26.1 billion.
Bahri Oil, the crude tanker unit, accounted for most of the growth. Its nine-month revenue rose by SR18 billion and its gross profit by SR7.7 billion.
Revenue also rose by SR429 million at Bahri Logistics, SR270 million at Bahri Chemicals and SR139 million at Bahri Dry Bulk over the nine months.
The company also cited a SR352 million rise in its share of profit from equity-accounted investees and a SR81 million increase in finance income.
Bahri shares rose about 5% in Riyadh trading on Wednesday after the results, Investing.com reported.
Chief Executive Ahmed Alsubaey said in a statement that the company would pursue disciplined growth, modernize and diversify its fleet, and expand cautiously into new segments, including gas and ammonia transportation.
Bahri signed a SR1.69 billion contract with International Maritime Industries this month to build three very large crude carriers.
