National Shipping Company of Saudi Arabia (Bahri) has posted improved earnings in the first quarter as oil shipping activity increased.

The state-owned VLCC and chemical carrier specialist said net profit to 31 March was SAR 64.9m ($17.3m), up from SAR 43.6m in the same period of 2021.

This is a rise of 49% as the 104 vessels brought in revenue of SAR 1.6bn, against SAR 1.2bn the year before.

Operating profit increased to SAR 119m from SAR 61.4m.