DUBAI, Jan 17 (Reuters) – National Shipping Company of Saudi Arabia (Bahri) reported an enormous soar in fourth-quarter internet revenue on Sunday, citing an increase in income after the completion of its merger with Vela Marine International and a rise in its fleet dimension.

The unique oil-shipper for Saudi Aramco reported a internet revenue for the three months to Dec. 31 of 566.9 million riyals ($151.2 million), up from 123.4 million riyals in the identical interval a yr earlier, it stated in a bourse assertion.

Analysts at Alistithmar Capital and Osool & Bakheet Investment Co anticipated the corporate to make a quarterly revenue of 520.5 million riyals and 545.2 million riyals respectively.

Bahri, one among 5 shares not open to direct buy by international buyers, stated final month it was proposing to greater than double its annual money dividend, paying out 2.5 riyals per share for 2015.

The shipper now had a fleet of 75 vessels, of which 33 had been very massive crude carriers (VLCCs) and 26 had been chemical tankers, it stated. It didn’t present a comparative determine for the top of 2014.

($1 = 3.7501 riyals) (Reporting by Tom Arnold; Editing by David French)

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