VOL. XXXI

NO. 36

13-JUNE-1988

SAUDI ARABIA

Saudi Shipping Company Returns Modest Profit in 1987

The National Shipping Company (NSC) of Saudi Arabia has announced a smallprofit of SR2.8mn ($Q75mn) in 1987, having reported regular losses for the threeprevious years. NSC lost SR5.1mn ($1.36mn) in 1984, SR56.2mn ($15.0mn) in 1985,and SR9.2mn ($2.45mn) in 1986. It attributes the turnaround to higher operatingrevenues, up 32.3% to SR433.8mn in 1987 from SR327.8mn in 1986, while operatingexpenditures...