The shipowner, which holds a 30% stake in Singapore-basedgas carrier outfit Petredec, saw earnings rise by 41.2% to SAR 192.1m in thethree months to 31 March compared to the first quarter of 2012.
A general improvement in both the crude and dry cargosectors also contributed to the stronger showing, the company said in astatement.
As well as its holding in Petredec, Bahri holds an 80% stakein National Chemical Carriers which operates 24 ships and 60% of Bahri Dy Bulk's five vessels.
The company formerly known as National Shipping Company ofSaudi Arabia owns 17 VLCCs and five roros under its own banner.
First quarter earnings dropped 30% on the final leg of lastyear when Bahri booked a huge profit of SAR 276.1m.
Its stake in Petredec earned SAR 64m in the first threemonths of 2013 compared to SAR 152m in the previous quarter as LPG ratessoftened.
Petredec has 10 gas carriers in the water with a further 16 on order including 12 VLGCs at Hyundai Heavy Industries in Korea.
