April 23 - The National Shipping Line of Saudia Arabia (Bahri) has seen its net profit for the first three months of 2013 fall by 9.4 percent year-on-year over 2012 to SAR144.5 million (USD33.5 million).

Bahri ceo Eng. Saleh N AL-Jasser attributed the year-on-year net profit fall to a lower time charter equivalent (TCE) spot rate for crude oil VLCC transportation.
Gross profit for the three-month trading period totaled SAR115.6 million (USD30.83 million) - a year-on-year decline of 35.9 percent.