Saudi Arabian state shipowner Bahri has seen earnings jump in the fourth quarter as tanker rates improved.

The company said it made SAR 566.88m ($151.18m) on a net basis to 31 December, from SAR 123.42m a year ago.

Its full-year profit was SAR 1.81bn against SAR 533.84m in 2014.

Bahri now has a fleet of 75 ships after its merger with compatriot Vela.

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