Board of Directors Report
14
Company Profile
Three decades have passed since the inception of the National Shipping Company of Saudi Arabia (NSCSA). The course of this procession was full of great success which reflected the company’s identity and national affiliation with global features. The most striking features of this success are manifested in the strategic outlook towards this promising industry by penetrating various fields of shipping business. NSCSA was a forerunner in providing excellent services, which constituted a qualitative change in the shipping industry throughout its course of transition from phases of foundation and formation to full- fledged growth which eventually led to its current phase of expansion. NSCSA continues to mobilize its resources to further support the acceleration of the wheel of development of the national economy, rendering the company to be a leading company in this industry at the regional level and assuming a forefront position among the leading shipping companies in the international level. The company and its affiliates currently own a large fleet of giant crude oil tankers, liquefied petroleum gas and chemical tankers, general cargo and multi-purpose (RORO) vessels. The company also deals in the field of shipping brokerage and has a wholly- owned affiliate responsible for ship
management services. The company made significant progress over the past years, at the levels of expansion in services and the size of its fleet, and generated successive remarkable profits, culminating in the record of profits generated in 2008. Given the significant role of the transport sector in accelerating the wheel of development in the Kingdom, and being one of the basic focal points in this field, NSCSA, through its distinctive activity, constitutes one of the pillars of the Saudi national economy and contributes to the support and development of national development programs and preservation of the environment in line with national and Islamic values. The company is making every possible effort to achieve meaningful returns to shareholders by practicing best investment methods to avoid risks without adversely impacting its stated mission, goals and objectives. The company endeavors to foster confidence through establishing long- term relationships with its customers and partners. Additionally, affiliation to a large number of organizations and conglomerates has given the company worldwide distinctive presence, prominent status and prestige in the international arena.
Historical Background
1986 Engaged in the primary phase of chemical Transportation
1997 Founded the Mideast Ship Management Ltd.
1993 Founded the National Shipping Company of Saudi Arabia (USA)
2008 Realized historical financial results
1970
1980
1990
2000
2010
1979 Company’s incorporation by Royal Decree and commence-ment of operations with chartered vessels
1990 Founded
2005 Engaged in the shipping of liquefied petroleum gas through purchase of stake in Petredec Ltd. International Company
the National Chemical Carriers Limited Company in a strategic partnership with SABIC 1995
1983 Owned the 1st. cargo vessel “Saudi Abha” of a 4-vessel fleet
Engaged in crude oil transportation and taking delivery of the first giant crude oil tanker
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