VOL. XXXVIII

NO. 36

5-JUNE-1995

Saudi Arabia

NSC ReturnsLosses In 1994

The NationalShipping Company (NSC) of Saudi Arabia has announced a loss of SR7mn ($1.9mn) in1994 after returning a profit of SR189mn ($50.4mn) in 1993. The companyattributed the loss to the high cost of chartering vessels and depressed freightrates during the year. Commenting on the poor results, NSC's Chief Executive,Mr. Muhammad alJarbu', said that his company plans to take measures designed tostreamline its operations and...