VOL. XLV

No 29

22-July-2002

SAUDI ARABIA

NSCSA Posts $37.2Mn Loss For 2001

TheNational Shipping Company of Saudi Arabia (NSCSA) has posted a loss ofSR139.7mn ($37.2mn) for the year 2001, following a loss of SR42.8mn ($11.4mn)in 2000. Operating revenues fell 25% between 2000 and 2001 from SR1.6bn($426.7mn) to SR1.2bn ($320.0mn). However, the newly-appointed NSCSA Chairman Sulaiman Al-Herbish (MEES, 21 January) noted in his report thatbefore the effect of Discontinued Operation of Container Ships,...