Net gains for Saudi line

Net gains for Saudi line

The National Shipping Co. of Saudi Arabia reported that net income grew to 155.6 million ($41.49 million) in 2003, compared with $21.76 million in 2002.

The company expects first quarter profits to reach around $26.66 million, compared with $13.6 million in the same period a year ago.

NSCSA is 28 percent owned by the Saudi government and the rest by private investors.