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ISSREPORTERlTheNetworkStrategicexpansionMARCH2012SaudiArabiaInastrategicmoveISShasre-establishedownofficesinJeddahYanbuRabighJubailRastanuraRasAlKhafjiandDammamintheKingdomofSaudiArabia.ISShasestablishedanewlegalentitywithintheKingdomthroughajointventurewiththeAlBakriGrouponeofSaudix19sleadingcompanies.ISSSaudiArabiawillofferMarineServicesGovernmentServicesCargoServicesSurveyandLinerAgency.ItwillalsooperatelaunchservicesoffRastanura.There-entryintoSaudiArabiawillprovideISSwithcoverageofoneofthelargestindustrialandprojectorientatedeconomiesintheMiddleEastregion.TheheadofficeforthejointventurehasbeenestablishedinJeddahwherethecountrymanagementteamisbased.RohanDx19Souzawhohasover15yearx19sportagencyexperiencehasbeenappointedasISSSaudiArabiaPortManager.HehasbeentransferredfromISSQatarwherehewastheMarineandGovernmentServicesPortManagerforanumberofyears.DuringthistimehehasexecutedcuttingedgeservicestoISSx19clientsandhehasevenbeenrecognizedastheEmployeeoftheYearbyISSSeniorManagement.HeisnowbasedinJeddahandNewofficeopeningsinSaudiArabiaThailandSpainVenezuelaandTimor-LesteInlinewiththegoalofexpandingourglobalproprietarynetworktocreateasolidplatformfromwhichtoexecuteourstrategyISShasopenedupinfivecountriesalreadythisyear.responsibleforoperationaldeliveryandforensuringaconsistentlyhighlevelofserviceinSaudiArabia.FlemmingJensenexplainsx1cBothourexistingandfutureclientsnowhavethecomfortofISSx19highlevelofservicesbeingdeliveredthroughoutSaudiArabiabyISSx19ownpeople.OurvisionisforISSSaudiArabiatobecomethemarketleaderinMarineServicesandtobeamongstthetop10playersinCargoServicesduringthecomingyears.x1cISSSaudiArabiaoffersservicessecondtononetoitsclientswith247coveragesupportedbyISSsystemsandstandardoperatingprocedures.ServicesofferedinSaudiArabiawillbeappropriatelybundledandtailoredinordertomeetcustomerx19sspecificrequirements.x1dSaudiArabiathelargesteconomyintheMiddleEasthasboosteditsforeignreservessignificantlyoverthepastyearswhichwereprojectedtoreach1.65trillionriyalsUS440bnbytheendof2011accordingtotheCentralBank.Underitsbudgetunveiledin2011SaudiArabiaplanstospendUS160bnondomesticprojectsbytheendof2012.ThecountryhasfurthermorepledgedtospendUS400bnbytheendof2013toupgradeitsinfrastructureincludingtheestablishmentoffivemajoreconomicandindustrialcities.ThailandOn1MarchanothernewISSofficeopenedinBangkok.TheopeningoftheISSThailandwithnewlyrecruitedmanagementandstafffollowstheendingofafranchiseagreementbetweenISSandISSThoresenAgencies.ThenewteamisdrawnfromlargeinternationalshippingagenciesandtheirexperienceencompassesallvesselandcargotypesinallmajorThaiports.TheyareledbyGeneralManagerThaveesakChowchankitwhohasjoinedISSfromtheBangkokShipownersAgentsAssociation.TheOperationsManagerisCapt.SunchaiSanguanpaowhosincecomingashorein1997workedforISSThoresenforoveradecade.TonyBrazenorRegionalOperationsManagerofISSAsiaPacificsaidx1cFollowingaperiodinwhichwehavereliedexclusivelyonpartnershipandfranchisearrangementsinThailandtheopeningofawell-staffedBangkokofficemarksarealcommitmenttoshipownersusingThaiports.x1dOneoftheAlBakriGroupx19stankers