{
  "id": 16899240,
  "title": "Bahri Profit Hits $1.36 Billion as the World Scrambles for Tankers",
  "url": "https://urgent.news/2026/10/28/bahri-profit-hits-1-36-billion-as-the-world-scrambles-for-tankers",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T12:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Bahri-Profit-Hits-136-Billion-as-the-World-Scrambles-for-Tankers.html"
  },
  "original_language": "en",
  "account": "Saudi Arabia's shipping company Bahri reported a staggering $1.36 billion profit, a tenfold increase from the previous year's third quarter, as the global shipping crisis surged tanker rates. The Bahri Oil business unit contributed significantly to this profit, with revenue jumping $3.2 billion, an 85% increase from the previous quarter. The prolonged disruption at the Strait of Hormuz led to record-high oil tanker rates, as trade routes were reshuffled and tankers were tied up in lengthy voyages. The increased flow of oil from the Strait of Hormuz, mainly due to ship-to-ship transfers in the Gulf of Oman, limited the availability of very large crude carriers, particularly for the U.S. Gulf Coast to Asia trade route. Despite the challenging circumstances, Bahri's revenues across all business units rose dramatically, with a 500% year-on-year increase to $3.9 billion.",
  "summary": "Surging tanker rates amid the oil and shipping crisis helped Saudi Arabia’s shipping giant Bahri post a tenfold jump in net profit for the third quarter from a year earlier. Bahri booked a net profit of $1.36 billion (5.1 billion Saudi riyals) for the third quarter, ten times higher than the profit of $137 million (513 million riyals) for the same period in 2025, driven in particular by the Bahri…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}