VOL. XLVI

No 20

19-May-2003

SAUDI ARABIA

NSCSA Posts $22Mn Profit In 2002

The National Shipping Company of Saudi Arabia (NSCSA) has posted a profit of SR81.7mn ($21.8mn) for 2002, following a loss of SR138.6mn ($36.9mn) in 2001 (MEES, 22 July 2002), according to a statement to shareholders from the companys chairman Sulaiman al-Herbish in NSCSAs Annual Report 2002. The loss in 2001 was attributed to a one-off disposal of roll-on/roll-off (Ro-Ro) container ships. NSCSAs operating revenue in 2002...