A weaker tanker market has hauled down third quarter profit at Saudi Arabian shipowner Bahri.
It logged a profit of SAR 60.5m ($16.5m) in the three months to the end of September, a reduction from the SAR 315.4m seen a year ago.
It came as revenue slipped from SAR 1.37bn to SAR 1.28bn year-on-year.
Bahri tells investors that weaker spot rates in the oil and chemical tanker markets coupled with a reduced income from its stake in Petredec influenced the figures.
