VOL. XXXVI

NO. 28

12-APRIL-1993

SAUDI ARABIA

NSC's Profits Slump

Saudi Arabia's National Shipping Company (NSC) in 1992 reported a 61% declinein profits to SR200mn ($53.3mn) from the record profit of SR515mn ($137.3mn) in1991 when the company's business increased dramatically as a result of the Gulfwar (MEES, 4 May 1992).

NSC has a paid-up capital of SR2,000mn ($533mn) and is owned 28.8% by theSaudi Government and 71.2% by Saudi companies and investors. Last year NSCannounced a five-year plan to...