Management Report
Affiliates and Segments
The company owns or participates in a group of companies both within and outside the Kingdom of Saudi Arabia, as follows:
Ownership (%) 2009
Ownership )%( 2008
Head Office
Scope of Activity
Date of Incorporation
Company’s Name
Activity
1991
100%
100%
NSCSA (America) Inc.
NSCSA ships agent
USA
Global
Technical Ship Management Mideast Ship Management Ltd.
1996
100%
100%
Dubai
Global
National Chemical Carriers Ltd. Co.
Petrochemicals Transportation
1990
80%
80%
Riyadh
Global
Bermuda LPG transportation and Trading
1980
30.3%
30.3%
Petredec Co. Ltd.
Global
Arabian United Float Glass Company
Glass Manufacturing & Trading
2006
10%
10%
Riyadh
Regional
Summary of Financial Results of Affiliates for the Fiscal year 2009
% Participation in Company Net Profits
General & Administrative Expenses
Other (Expenses) revenues
Operating Revenue
Operating Expenses
Net profit (Loss)
Company
NSCSA (America) Inc.*
21,539
(5,827)
(19,765)
63
(2,402)
(6,5%)
Mideast Ship Management Ltd. *
37,086
---
(32,379)
9
4,716
1,3%
National Chemical Carriers Ltd. Co.
304,706
(152,892)
(5,399)
6
135,221
36,6%
* Dependent entirely on the parent company in generating their income.
In Thousands Saudi Riyals
18
Annual Report 2009 The National Shipping Company of Saudi Arabia
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