The National Shipping Company of Saudi Arabia (A Saudi Joint Stock Company) Notes to the Consolidated Financial Statements As of December 31, 2012 (in Thousands of Saudi Riyals)
2011
General Cargo Transportation (Liner)
Crude Oil Transportation
Petrochemical Transportation
Bulk Transportation
Total
Operating revenues
1,227,423
362,539
401,122
---
1,991,084
Bunker cost
661,509
---
139,654
---
801,163
Other operating expenses Vessel related expenses
209,329
116,698
47,039
---
373,066
Cargo related expenses
---
---
137,954
---
137,954
Voyage related expenses
74,231
---
57,798
---
132,029
Depreciation and amortization
267,760
92,818
13,581
---
374,159
Others
8,737
1,269
-
---
10,006
Total other operating expenses
560,057
210,785
256,372
---
1,027,214
Total operating expenses
1,221,566
210,785
396,026
---
1,828,377
Gross operating income before bunker subsidy
5,857
151,754
5,096
---
162,707
Bunker subsidy
137,449
---
39,016
176,465
Gross operating income
143,306 151,754
44,112
---
339,172
B) The following schedule illustrates the distribution of the Company’s and subsidiaries’ assets and liabilities according to the operational segments as of December 31:
2012
General Cargo Transportation (Liner)
Crude Oil Transportation
Petrochemical Transportation
Bulk Transportation
Shared Assets and Liabilities*
Total
Assets
5,240,417
3,705,071
972,714
208,969
936,438
11,063,609
Liabilities
1,879,601
2,528,093
613,112
7,556
309,502
5,337,864
2011
General Cargo Transportation (Liner)
Crude Oil Transportation
Petrochemicals Transportation
Bulk Transportation
Shared Assets and Liabilities*
Total
Assets
5,415,286
3,647,375
542,316
199,124
819,110
10,623,211
Liabilities 5,267,274 * Shared assets and liabilities represent amounts which cannot be determined for a specific segment such as cash, investments in Murabaha, deposits and government bonds, unclaimed dividends, etc. 2,337,777 2,568,479 213,692 5,288 142,038
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