The company’s Bahri Oil unit served as the primary engine for this growth, generating $3.2 billion in revenue during the third quarter. This performance mirrors the broader market reality where geopolitical instability has forced oil tankers into inefficient, extended voyages. As trade routes shift, very large crude carriers are increasingly tied up in ship-to-ship transfers within the Gulf of Oman, tightening global supply and driving freight rates to record highs.
Total revenue for the firm reached $3.9 billion, a 500% jump compared to the same period last year and more than double the figures reported in the second quarter. Bahri executives attributed these gains to a combination of heightened shipping activity and the premium costs associated with securing tanker capacity in a disrupted global energy market.
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