The National Shipping Company of Saudi Arabia (NSCSA) is back in the black with results for the first half of the current year showing a net profit of SR115.7 million ($30.85 million), compared with an SR16.8 million loss for the same period of last year.

NSCSA recently announced the purchase of four new double-hull VLCCs at a cost of SR1238 million. These oil tankers are under construction at the Samsung Heavy Industries shipyards in South Korea, according to NSCSA.

The new tankers have 'excellent' specifications, the company says, with similar qualities and features to its existing VLCCs.

Each tanker will have a capacity of 302,700 dwt, equivalent to 2,165,000 barrels. The first vessel will be delivered next month, with the remaining three to be delivered in February, May and October next year.

These vessels will join NSCSA's fleet of five crude oil carriers, bringing the total number to nine, with a total capacity exceeding 19 million barrels.

NSCSA's first VLCCs were delivered between 1996 and 1997. The tankers are chartered to Saudi Aramco subsidiary Vela International Marine.

According to NSCSA, the signing of these new VLCC contracts is in line with a company strategy which is focused on expansion in the transportation of petrochemical products through its subsidiary National Chemical Carriers Ltd Co (NCC), which itself is now looking to enhance its fleet capacity with another four modern chemical carriers, at a total cost of SR1 billion.

In addition to its excellent fiscal results, NSCSA has completed several recent IT projects to boost customer service, improve productivity and reduce costs.

The most important of these, according to the company, is the linking of more than 850 customers from 70 cities around the world to a central computer through the Internet, thereby linking all branches and agents globally to a central database.

In its work with Saudi Aramco, NSCSA gained the state oil company's Service Recognition Award of 'Marine Cargo Carrier of the year 2000', won against stiff competition from international shipping companies.

The award was, according to NSCSA, won thanks to its excellent performance, punctuality and dedicated commitment to the needs of shippers and consignees.