Saudi Arabian VLCC giant storms ahead on crude oil

Saudi Arabian tanker behemoth Bahri delivered a strong 2015 in which the company's VLCC fleet in particular benefited from the low oil prices and the booming tanker market.

Photo: Euronav

Tanker carrier Bahri, also known as National Shipping Company of Saudi Arabia, improved its result by all of 240 percent in 2015 compared to the previous year, writes the company in a financial statement.

Bahri exited 2015 with a net result of SAR 1.8 billion (Saudi Arabian Riyal), which is the equivalent of about USD 480 million, against SAR 533 million in 2014. In the fourth quarter alone the Arabian carrier noted a net result of SAR 566 million compared to SAR 123 million in the same quarter of the previous year.

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