VOL. XLVI

No 5

3-February-2003

SAUDI ARABIA

NSCSA Records $21Mn Profit In 2002

The National Shipping Company of Saudi Arabia (NSCSA) has announced a profit of SR80mn ($21.3mn) in 2002, following losses of SR139.7mn ($37.3mn) in 2001 and SR42.8mn ($11.4mn) in 2000 (MEES, 22 July 2002). According to NSCSA Chairman Sulaiman al-Herbish, the turnaround has been brought about by the boards strategy of focusing on crude oil and petrochemicals transportation and halting the operation of container ships,...