Riyadh: The National Shipping Company of Saudi Arabia (NSCSA) announced a 1.5%increase in net profits to SAR 262.5m ($69.9m) for the 6-months up to June 30th 2010. This comes as the company saw a strong second quarter to the year with a net profit of SAR. 132.2m, which was 22.8% higher than the SAR. 107.7m for the same quarter 2009.
NSCSA ceo Humoud A. Al-Ajlan stated that the increase of profit was due to the improved average rates of crude oil transportation and four VLCCs delivered in March, May, July and September of 2009.
Source : STA-Online, 20.07.10.
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