Nakilat’s nine-month profit grows by 25pc

Qatar Gas Transport Company Ltd (Nakilat) recorded a net profit of QR693m for the first nine months of 2014, up 25 percent compared to QR553m reported during the same period in 2013.

Commenting on the results, Nakilat’s board of directors said the strong results of the company’s earnings clearly reflect the strength and stability of the company’s financial position.

The results also represent the company’s prudent strategy in exploiting opportunities to develop and grow the company’s main business activities in the field of liquefied natural gas (LNG) transportation to include international markets, which in turn has resulted in an increase in the number of operating vessels in Nakilat’s fleet during the year 2014.

The board pointed out that the strong improvement in the LPG vessels’ performance contributed significantly to the achievement of these remarkable results.

In addition to the increased operating activities at the shipyard facilities, which will continue to underpin the future financial results of the company.

The board has affirmed Nakilat’s continuous commitment to pursue its development and growth strategy in the long term, in order to achieve strong returns to its shareholders.

Nakilat will exploit future opportunities to acquire new vessels, serving the international marine sector, and to increase the utilisation rate for the shipyard facilities at Erhama bin Jaber Al Jalahma Shipyard.

Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 61 LNG vessels.

Nakilat also manages and operates four large LPG carriers. Via two strategic joint ventures, Nakilat Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the ship repair and construction facilities at Erhama bin Jaber Al Jalahma Shipyard. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.
Source: The Peninsula