Consolidated Financial Statements
9. DEFERRED CHARGES, NET
Deferred charges, net at December 31 comprise the following:
2009
2008
Total dry-docking cost
182,525 (131,137)
181,404 (66,443) 114,961
Accumulated amortization expenses
Dry-docking cost – net Deferred tax benefits
51,388
91
70
51,479
115,031
In Thousands Saudi Riyals
Movement in the dry-docking cost is as follows:
2009
2008
Beginning of the year
114,961
146,196 35,208 (66,443) 114,961
Additional dry-docking cost Amortization expenses
1,121
(64,694)
51,388
End of the year
In Thousands Saudi Riyals
54
Annual Report 2009 The National Shipping Company of Saudi Arabia
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