An active S&P policy during the second quarter has pushed the National Shipping Company of Saudi Arabia (Bahri) to a stronger profit.
Bahri booked net income of SAR 504.2m ($134.4m) in the three months to the end of June, up by 47% year-on-year.
It attributed this increase to higher operating revenue as a result of “buying and receiving several VLCCs”.
The time charter equivalent (TCE) in the crude oil spot market during the second quarter was also improved compared to the same stage of 2015.
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