Chapter I Information about the Company and Its Subsidiaries
List of Subsidiaries
The Company owns or holds shares in a group of companies in KSA and abroad, as shown in the following table:
Geographic Scope of Activity
Incorporation Date
Company Name
Main Activity Place of
Ownership %
Incorporation Headquarters
The Company's Agent Technical Ship Management
NSCSA (America)
USA
USA
Global
1991
100%
Mideast Ship Management Ltd National Chemical Carriers Ltd. Co. (NCC) Bahri Dry Bulk Co. (BDB)
UAE
UAE
Global
1996
100%
Petrochemicals Transportation KSA Dry Bulk Cargo Transportation KSA
KSA
Global
1990
80%
KSA
Global
2010
60%
LPG Transportation and Trading Float Glass Manufacturing and Trading
Petredec Ltd.
Bermuda
Singapore
Global
1980
30.3%
Arabian United Float Glass Co.
KSA
KSA
Local
2006
10.9%
The Company’s Strategic Direction
The five-year strategic plan includes the following: • Receiving the remaining crude oil vessels, the number of which reached 17 VLCCs in 2009. • Optimal operation of crude oil vessels on the spot market. • Exploring markets in order to operate NCC’s fleet in an optimal manner. • Expanding general cargo operations. • Improving operational management across all sectors and units of the Bahri group. • Exploring investment opportunities for potential expansion.
During 2012, the Company has worked on enhancing its competitiveness in the global market by expanding its business, increasing its fleet and consolidating its financial and operational activities through diversifying its investments and management in an effective manner in accordance with its five-year strategic plan (2009-2013), which was approved by the Board of Directors at the end of 2008. Based on this strategy, the Company has worked on expanding its activities in the sectors of general cargo and dry bulk cargo transportation. It is also completing an expansion plan for the petrochemicals transportation sector.
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