National Shipping Company of Saudi Arabia (Bahri) — Cyborg Score 7/10
Solid
Marine Shipping & Logistics
Strategic Profile
The company structures its operations around five business units that include Oil, Chemicals, Logistics, Dry Bulk, and Ship Management. The Public Investment Fund (PIF) holds a 22.55 percent stake, 20 percent is held by by Saudi Aramco Development Company and the remainder is held in public shares. This unique ownership structure aligns with Saudi Arabia's Vision 2030 economic diversification objectives and positions Bahri as a strategically important national asset.
Cyborg Score Rationale
Net profit at Bahri surpassed the SAR2 billion ($533.2 million) mark for the first time in February 2025 as revenue increased as a result of its fleet expansion. The total operated fleet, comprising owned and leased vessels, reached 109 vessels in 2024, compared to 98 in 2023. The company demonstrates strong financial performance and strategic fleet expansion, though cyclical shipping dynamics present ongoing challenges.
Top Insights
The company currently owns 97 vessels with more on order, including 50 VLCCs, 31 chemical/product tankers, 7 multipurpose vessels and 13 dry bulk carriers.
Saudi shipping company Bahri has placed its first order for six dry bulk carriers with International Maritime Industries, the largest shipyard in the Middle East and North Africa region. The contract for the new-build vessels is valued at SAR762 million ($203 million).
Bahri has built, owns and operates Saudi Arabia's critical desalination infrastructure, applying industry-leading innovation and state-of-the-art technologies to create a better tomorrow for the Kingdom's businesses and communities.
Bahri is committed to positioning Saudi Arabia as a unique regional logistics gateway to three continents and contributing to the Kingdom's 2030 Vision by continuously expanding its services and presence across the world.
Named Competitors
VLCC Tanker Services — Global tanker and logistics operator
Crude Oil Transportation — International oil tanker shipping
Dry Bulk Shipping — Major dry bulk shipping company
Recent Developments
(February 2025) Record net profit exceeds SAR2 billion for first time
(2025) Fleet expansion to 109 vessels with dry bulk carrier orders from IMI
(2024) Continued diversification into desalination and logistics services
Open the full interactive National Shipping Company of Saudi Arabia (Bahri) report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.