Bahri posted record financial results in 2025, driven by a strengthening crude tanker market and a larger, younger owned fleet that increased exposure to improving rate conditions. 43 billion.
Momentum accelerated in the second half of the year as VLCC markets tightened, supported by longer-haul crude trade flows and limited fleet growth across the global tanker sector. Bahri added nine new VLCCs during 2025, allowing the company to capitalize on higher tanker equivalent rates and increased trading days.
A greater share of owned tonnage lifted margins, with full-year EBITDA margin improving to 51%. 26 billion and net profit more than doubling to $978 million.
The company strengthened long-term demand visibility by renewing its crude oil COA with S-Oil for another 10 years and signing its first COA with Luberef. 25 billion, reflecting final payments for modern second-hand vessels and initial installments for newbuildings scheduled for delivery between 2026 and 2029.
With tanker fundamentals expected to remain supportive and additional new tonnage entering service in coming years, Bahri appears well positioned to sustain earnings while continuing disciplined fleet renewal.
Bahri's focus on a younger fleet and strategic investments in long-term demand visibility are key drivers of its success. As the crude tanker market continues to evolve, it will be interesting to see how Bahri adapts to changing market conditions.
