Information about the Company and its Subsidiaries The following table shows the companies that are wholly or partially owned by Bahri:
Geo- graphic scope of activity
Place of incorpo- ration
Incor- poration date
Owner- ship (2014)
Company name
Core activity
NSCSA (America) Inc.
Agent
USA
Global
1991
100%
Technical ship management Chemical transportation Dry bulk cargo transportation
Mideast Ship Management Ltd.
UAE
Global
1996
100%
National Chemical Carriers Ltd. Co. (NCC)*
KSA
Global
1990
80%
Bahri Dry Bulk Co. (BDB)
KSA
Global
2010
60%
LPG transportation and trading Manufacturing of float glass
Petredec Ltd.
Bermuda
Global
1980
30.3%
Arabian United Float Glass Co.
KSA
Local
2006
4.69%
* Owns a subsidiary in the UAE under the name of “National Chemicals Carriers JLT” since 2013 that manages operations of NCC fleet commercially.
Company Strategy Bahri enhances its competitiveness in global markets through expanding its business activities, increasing its fleet, and consolidating its financial and operational position by diversifying and managing the investments in accordance with the Company’s strategic plans.
The Company’s strategic plan for 2014 included the following:
Receiving the remaining ships under construction
Finalizing the merger of Vela’s fleet and operations with Bahri
Exploring investment opportunities
Improving operational performance in all sectors and business units of Bahri
Start preparing a new strategic plan for the next five (5) years.
20
Annual Report 2014
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