On behalf of the Board of Directors of the company, I welcome you all to this 5th Annual General Meeting.
We are now 5 years old and despite facing nearly 4 of these 5 years in trade embargo and the last 2 years in painful global pandemic, I am very pleased to report that at the end of 5 years, the company has been able to generate a total revenue of around QAR 393 million and a total net profit of about QAR 143 million by competing for business world-wide.
Over the period of 5 years, the company completed 202 voyages globally and transported more than 12 million tons of dry bulk cargo like coal, rock phosphate, gabbro, soyabean, maize, grain, iron ore, cement, clinker, chrome ore, salt, bauxite, scrap, wheat, manganese Ore, corn, fertilizer, and other minerals. These cargoes were transported across ports in Australia, Asia, Africa, Europe, South America, and North America.
During these 5 years, “S’hail” has successfully adopted and transformed itself into an international dry bulk shipping company. This means that the company is now well connected to a shipping market of about 5 billion tons per year of dry bulk cargo or about 70,000 voyages per year.
Pursuant to the decisions in the 2nd EGM held on 23rd Nov 2021, the Board will now be strengthened with 7 members to guide the company into newer heights. Further, with a cash balance of about QAR 157 million as on 31st Dec. 2021 and remarkable organizational knowledge and resilience demonstrated in the last 5 years, the company is poised to remain strong and successful.
May I end by expressing my deep faith in the future growth of this company and with profound gratitude towards all the shareholders for their support in nurturing this venture into such a success.