Bahri Annual Report-2011

Financial Statements Report 2011

Notes To The Consolidated Financial Statements For the year ended December 31, 2011 (In Thousands Saudi Riyals)

7. INVENTORIES

Inventories on board the ships at December 31 comprise the following:

2011

2010

Fuel

122,835

109,880

Lubricants

22,214

21,502

Other

-

1,984

145,049

133,366

8. ACCRUED BUNKER SUBSIDY, NET

Accrued bunker subsidy, net at December 31 comprise the following:

2011

2010

Accrued bunker subsidy

130,374

90,753

Provision for doubtful bunker subsidy

)42,595(

)24,858(

87,779

65,895

9. INVESTMENTS IN AFFILIATES AND OTHER

Summary of the movement in investments in affiliates and other for the year ended December 31 is as follows:

2011

2010

Balance, beginning of the year

455,796

418,519

Company’s share in affiliate’s net income

135,384

36,932

Company’s share in net income of a joint venture

4,339

3,856

Dividends received during the year

)34,087(

)3,511(

Balance, end of the year

561,432

455,796

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