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UNITED ARAB SHIPPING COMPANY RECORDS $23.7 MILLION NET INCOME
Info-Prod Research (Middle East), September, 2003
According to A-Qabas newspaper (September 14, 2003), the United Arab Shipping Company announced a net operating income of $23.7 million in the first half of the current year. The Chief Executive Officer of the Company, Mr. Abdullah Al-Madi, attributed this income level to improving container freight activities through the same period, increasing shipment prices in some areas and pressing expenditures.
The United Arab Shipping Company (S.A.G.) was established in July 1976, jointly by the six shareholding states from the Arabian Gulf. The Company's authorized capital is $1770 million of which $991.2 million has been subscribed. As the National line of the Arabian Gulf states, the company's primary mission is to serve the shipping needs of the Arabian Gulf region. UASC also aims...
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