From Marine Link
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 53.6 percent jump in first-quarter net profit on Monday.
The company’s net profit for the three months to Mar. 31 was 611.99 million riyals ($163.3 million), up from 398.41 million riyals in the same period a year earlier, it said in a bourse statement.
Bahri, one of five Saudi stocks not open to direct purchase by foreign investors, said its year-on-year performance was boosted by factors including an increase in operating revenues due to buying and receiving several very large crude carriers (VLCCs), as well as higher average charter prices.
