Independent journal on economy and transport policy
08:04 GMT+1
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In the third trimester the 2011 profit clearly of NSCSA is diminished of 75.8%
The operating result has been negative for 8,8 million Saudi riyals
October 17, 2011
In the third trimester of this year the shipowning society Saudi The National Shipping Company of Saudi Arabia (NSCSA) is incurred in operating liabilities of 8,8 million Saudi riyals (2,3 million dollars) on revenues for 479,1 million riyal respect to an operating profit of 78,2 million riyal on revenues for 514,5 million riyal in the correspondent period of 2010. The result clearly has been positive for 23,4 million riyal respect to a profit of 97,0 million riyal in the third trimester last year.
The managing director of the company, Saleh Al-Jasser, has explained that the decrease of the profit clearly of the third trimester of this year is determined by the reduction of the hires Time Charter Equivalent (TCE) of the Very Large Raw Carrier in the market ad because of the excess of tonnage determined from the income of new ships VLCC in the market, from the term of consequent Time contracts charter for three ships with they breaking in the market ad in the course of the second and third trimester of this year let alone from the increase of the cost of the bunker.
In the first nine months of the 2011 company it has recorded a profit of clearly 174,5 million riyal on revenues for 1,423, 5 million riyals, with decreases respective of 51.5% and 10.1% regarding 359,5 million and 1,584, 0 million riyals in the period January-september last year. The operating profit is piled to 55,9 million riyal (- 82.3%).
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In the third trimester of this year the shipowning society Saudi The National Shipping Company of Saudi Arabia (NSCSA) is incurred in operating liabilities of 8,8 million Saudi riyals (2,3 million dollars) on revenues for 479,1 million riyal respect to an operating profit of 78,2 million riyal on revenues for 514,5 million riyal in the correspondent period of 2010. The result clearly has been positive for 23,4 million riyal respect to a profit of 97,0 million riyal in the third trimester last year.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
