Independent journal on economy and transport policy
06:50 GMT+1
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In the 2011 profit clearly of shipowning society Saudi NSCSA it is diminished of 88.4%
In the recorded solo fourth trimester has been an increase of 105%
January 18, 2012
Shipowning society NSCSA (The National Shipping Company of Saudi Arabia) has announced to have archived item the exercise anniversary 2011 with a profit of clearly 288 million riyal (77 million dollars), with a decrease of 88.4% regarding 414,9 million riyal in the exercise precedence. The operating profit is piled to 59,1 million riyal, decreasing of 82.8% regarding 344,1 million riyal in 2010.
In the solo fourth trimester of the 2011 Saudi company has totaled a profit of clearly 113,6 million riyal, with an increment of the 105% regarding 55,4 million riyal in the period October-December of the year precedence. In bending instead (- 88.4%) the operating profit, than has been attested to 3,2 million riyal regarding 27,5 million riyal in the last trimester of 2010.
The managing director of NSCSA, Saleh Al-Jasser, has explained that the increase of the result clearly in the fourth trimester last year is generated by the profits recorded from Petredec Ltd., society of resale of LPG of which NSCSA he stops 30.5% of the capital stock, and from the improvement in the field of several the marine transport he is of goods that of producing petrochemical. The decrease of the results and clearly operating of entire exercise 2011 is attributable instead to the contraction of the hires in the market ad for the Raw Very Large Carrier (VLCC) determined from an excess of tonnage due to the breaking in the market of new ships VLCC let alone to the term of three contracts of Time chartering charter with consequent reintroduzione of the ships in the market ad in the course of the second and third trimester of 2011. To this the effect of the increase of the cost of the bunker joins.
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Shipowning society NSCSA (The National Shipping Company of Saudi Arabia) has announced to have archived item the exercise anniversary 2011 with a profit of clearly 288 million riyal (77 million dollars), with a decrease of 88.4% regarding 414,9 million riyal in the exercise precedence. The operating profit is piled to 59,1 million riyal, decreasing of 82.8% regarding 344,1 million riyal in 2010.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
