(MENAFN- The Peninsula) The Peninsula
Doha: S'hail Shipping and Maritime Services QPJSC (a 100% Qatari company) held its 6th Annual General Meeting at the Sultan Beach Resort in Al Khor on February 15.
During the AGM, the Chairman and Managing Director Mohamed Khalifa Al Sada reported that since its establishment in 2016, S'hail has evolved into a formidable player in Shipping industry after successfully navigating through the challenges posed by unforgettable years of embargo and COVID pandemic.
He emphasised that company's solid financial earnings, year after year, are a direct testament to its position as one of the global leaders and provider of choice for dry bulk transportation and maritime services across all major ports around the globe such as in USA, Australia, Europe, Africa and Asia.
The company reported total revenue of QR133m for the year 2022 resulting in a net profit of QR69m. Considering the healthy net profit, upon Al-Sada's proposal at the AGM, 17 percent cash dividend was declared for its 378 Qatari shareholders. With this, total dividend declared by the company since its inception becomes QR111m (average of 12 percent per year).
Rajiv Pal, CEO said, during last 6 years, we remain committed to meeting our customers' needs for secure, safe, and reliable dry bulk transportation solutions globally.
He thanked the concerted efforts of employees and seafarers, who have been instrumental for the company to smoothly sustain its growth momentum from the early days of inception till date.
Pal proudly noted that, this continuous growth momentum has created tremendous value to its customers and shareholders which has placed S'hail in the league of highly respectable corporations on the World Shipping map.
Al-Sada in his address to shareholders mentioned that as at the end of financial year 2022, the ships of S'hail performed a total of 249 voyages transporting around 15.1m tons of dry bulk cargo like grains, coal, iron ore, maize, gabbro, salt, bauxite, wheat, corn, fertilizer and other minerals.
This is an extra-ordinary achievement particularly in a harsh environment of geo-political uncertainty, pandemic and extreme weathers detrimental to ship's performance.
Along with shareholders, MD and CEO, other Board Members Jaber Ali Al Mohannadi (Vice Chairman), Mohamed Khamis Al Shahwani, Rashid Jassim Al-Mohannadi, Hussain Mohammed Al-Fadala, Ali Hussain Al Sada and Sultan Zaher Al Muraiki also attended the AGM.
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