DOHA: Qatar Gas Transport Company Limited (Nakilat) recorded a 24 percent jump in its net profit for the first half of 2014 (H1, 2014). The company’s net profit reached QR446m in H1, 2014 compared to QR360m a year ago.
The strong earnings clearly reflect the strength and stability of the company’s financial position, and the prudent and effective strategic plan related to the development of our main business activities in the transportation of liquefied natural gas (LNG) to include international markets. This has resulted in an increase in the number of operating vessels in Nakilat fleet during the first half, Nakilat’s board of directors stated.
The board of directors pointed out the positive effect of the remarkable improvement in the international charter rate for the transportation of liquefied petroleum gas vessels, and the increased operating activities at the shipyard facilities will continue to underpin the future financial results of the company.
Nakilat will continue it’s commitment to pursue the company’s development and growth strategy to achieve strong returns to its shareholders. The company will look for good opportunities to acquire new vessels, and to increase the utilization rate for our shipyard facilities at “Erhama Bin Jaber Al Jalahma Shipyard”, the board of directors said.
Nakilat is a Qatari marine transport company providing the essential transportation link in 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.
The Peninsula
