SAUDI ARABIA

Saudi Shipping Company Reports $15mn Loss in 1985 

The National Shipping Company (NSC) of Saudi Arabia has announced a loss of SR54.4mn ($14.9mn) in 1985, a sharp increase over the 1984 loss of SR5.1mn ($1.4 an). The company, which is 25% owned by the Saudi Government, said that its revenues from shipping dropped to SR307mn ($84.1mn) in 1985 from SR345mn ($94.5mn) the previous year, while its other revenues fell to SR62mn ($17.0mn) from SR103.5mn ($28.4mn) in 1984....