APM Terminals Bahrain reported a sharp decline in profitability during the first half of 2026, with net profit falling by around 72% compared with the same period a year earlier, as disruptions to regional maritime trade weighed heavily on cargo volumes and terminal activity.
The operator of Khalifa Bin Salman Port (KBSP) has faced a challenging operating environment amid heightened geopolitical tensions in the Middle East and disruptions to shipping through the Strait of Hormuz. The company had already reported a significant deterioration in its first-quarter performance, setting the stage for a weaker first half.
Revenue and earnings under pressure
APM Terminals Bahrain’s first-quarter figures showed the scale of the downturn. Revenue declined 19.6% year on year to BHD 8.1 million, compared with BHD 10.1 million in Q1 2025. Gross profit fell 38.8% to BHD 2.4 million, while EBITDA declined 33.3% to BHD 2.3 million.
Net profit for the quarter dropped to approximately BHD 1.07 million, from BHD 2.42 million a year earlier, representing a decline of about 56%. Earnings per share fell to 12 fils from 27 fils.
The weakness in the first quarter was primarily linked to lower vessel movements and cargo volumes across the region.
Strait of Hormuz disruption hits operations
In its financial statements, APM Terminals Bahrain specifically highlighted the impact of escalating geopolitical tensions and the temporary closure of the Strait of Hormuz during the quarter.
The disruption resulted in a material reduction in vessel movements and cargo volumes to and from the region, directly affecting terminal throughput and operating activity. The company said these developments caused a significant reduction in revenue and operating performance compared with normal levels.
The uncertainty surrounding regional trade flows has remained a major challenge for ports and shipping operators across the Gulf, with changes in vessel routing and cargo flows affecting terminal utilisation.
KBSP remains a key regional gateway
Despite the financial pressure, Khalifa Bin Salman Port continues to play an important role in Bahrain’s logistics strategy. APM Terminals Bahrain operates the facility and provides container handling, general cargo and related marine services.
The company has continued investing in the port’s operational capabilities. It has also been pursuing initiatives designed to strengthen Bahrain’s position as a regional logistics and trade hub.
Among its longer-term priorities are initiatives covering Saudi Arabia connectivity, food security, building materials, and responsible ship and steel recycling, which form part of its broader growth strategy.
Outlook remains closely tied to regional trade
APM Terminals Bahrain’s management has indicated that the duration of geopolitical tensions and their impact on regional trade flows remain uncertain. The company continues to monitor developments and assess their implications for operations and financial performance.
The sharp first-half profit decline highlights the sensitivity of Gulf container terminals to disruptions along key maritime trade routes. A sustained recovery in vessel movements and cargo volumes will therefore be important for APM Terminals Bahrain’s earnings in the second half of 2026.
At the same time, continued investment in port infrastructure and logistics connectivity could help the terminal strengthen its position once regional shipping conditions normalise.
