Saudi Arabia’s Bahri reached a rare milestone at the end of the first quarter, one that few other shipowners have achieved.
The addition of five modern secondhand vessels — four VLCCs and one bulk carrier — and the purchase of three more VLCCs during the quarter will give it a fleet of 100 owned ships.
Bahri’s results, announced on Thursday, revealed an 18% rise in net profit to SAR 533m ($142m).
