Bahri Profit Hits $1.36 Billion as the World Scrambles for Tankers

Surging tanker rates amid the oil and shipping crisis helped Saudi Arabia’s shipping giant Bahri post a tenfold jump in net profit for the third quarter from a year earlier. Bahri booked a net profit of $1.36 billion (5.1 billion Saudi riyals) for the third quarter, ten times higher than the profit of $137 million (513 million riyals) for the same period in 2025, driven in particular by the Bahri Oil business unit, the Saudi shipping firm said on Wednesday. Compared to the second quarter, Bahri’s profit surged by 85%, the results showed,…