Saudi Arabian Tanker Owner Doubles Quarterly Profit
Bahri, the maritime transport arm of Saudi Aramco studies at this time internet income from their operations have elevated by 104 p.c from the corresponding quarter final yr to 399 million riyals (USD $106 million).
The firm attributes the boosted figures to the completion of the 2012 acquisition of Vela Marine International and its fleet of 20 tankers, and the one hundred pc utilization of these property amid a strengthened tanker market.
In parallel with their quarterly earnings report, Bahri introduced a 10-year crude oil transport contract with South Korea’s S-Oil Corp.
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