The National Shipping Company of Saudi Arabia (NSCSA) made SR.115.7 million in profits in the first half of 2001 compared with a loss amounting to SR.16.8 million for the same period last year. NSCSA recently announced the purchase of four new double-hull very large crude carriers (VLCCs) at a cost of SR.1238 million. These Oil tankers are under construction at the shipyards of Samsung Heavy Industries in South Korea and have features similar to the company's existing VLCCs.

They have a capacity of 302,700 DWT each, equivalent to 2,165,000 barrels. The first vessel will be delivered in October this year with the remaining three to be delivered in February, May and October 2002. The VLCCs will join NSCSA's fleet of five crude oil carriers bringing the total number to nine with a total capacity exceeding 19 million barrels. The signing of the contracts comes in line with the NSCSA's strategy focusing on expansion in the transportation of petrochemical products through its subsidiary the National Chemical Carriers Ltd. Co (NCC) which plans to enhance its fleet capacity with another four modern chemical carriers with a total cost of SR.1 billion.

NSCSA was established as a joint stock company by Royal decree No. M/5 dated 12/02/1398H)

NSCSA, whose capital is SR2,000 million ($533.3 million) is 29 per cent owned by the government of Saudi Arabia and 71 per cent by companies and individuals. Objectives of the company are to purchase, charter and operate vessels for the transportation of cargo, passenger and all other activities related and / or incidental to the shipping industry.

The head office is located in Riyadh with regional offices situated in Baltimore (USA), Singapore and London (UK) and other branches in Jeddah, Dammam, Jubail and Dubai.

The company owns eight roll-on/roll-off RoRo vessels operating in the liner trades between North America, Europe, the Far East, the Indian Sub-Continent and the Middle East.

Five VLCCs operate in various strategic ports carrying petrochemicals and one chemical carrier (Uqba Ibn Nafi) and three newly built 4400 teus container vessels operate between Mediterranean, the Middle East and the Far East. NSCSA owns 80 per cent of the total invested capital of the National Chemical Carriers Ltd. Co. (NCC), a limited liability company that transports chemical products around the world under the Storli pool agreement. NCC owns 14 tankers.

NSCSA owns 50 per cent of The Arabian Chemical Carriers (ACC) shares.