Bahri, a prominent logistics and transportation company, announced a record net profit of SAR 2.75 billion for the second quarter of 2026. This represents a substantial 574% increase compared to the same period last year. Revenues also saw significant growth, climbing 156% year-over-year to SAR 6.31 billion.
The primary driver behind this exceptional financial performance was Bahri's crude oil transport business. The sector experienced a boost from considerably higher freight rates and an increase in chartered-in vessel activity, which was necessary to satisfy heightened customer demand. During this period, Bahri also expanded its fleet, reaching a record total of 107 vessels following the acquisition of five chemical tankers.
For freight forwarders and operations managers, this indicates a robust market for crude oil shipping, reflecting strong demand and potentially tight capacity in the tanker segment. The increased charter-in activity suggests that even with fleet expansion, Bahri needed additional tonnage to capitalize on market conditions, which could imply sustained high rates for tanker services. Forwarders involved in energy logistics should monitor these trends as they may influence broader shipping costs and capacity availability, particularly if vessels are diverted or chartered out from other segments.
