Nakilat has posted a third-quarter net profit of QR749mn, the company announced yesterday.
In the same period last year, the company had earned a net profit of QR757mn.
Nakilat’s board of directors stated that the company’s strategic long-term charters for its LNG vessels and the strong LPG vessels performance have ensured the continuous strong financial profitability despite the current market conditions of fluctuating oil and gas prices and the slowdown in ship repair and building activities.
The board also reaffirmed its “steadfast commitment” to Nakilat’s growth and development strategy, in line with Qatar’s National Vision 2030.
Nakilat managing director Abdullah Fadhalah al-Sulaiti said, “Nakilat’s resilient financial performance, despite the current economic climate, is attributed to the prudence and effectiveness of our long-term business strategies. We are actively seeking out new business opportunities to grow our business portfolio and maximise returns for our shareholders.”
Al-Sulaiti said, “Our joint ventures continue to add value to our operations, strengthening our ambition to be a global leader and provider of choice for energy transportation and maritime services.”
Nakilat is a Qatari LNG transport company providing an essential transportation link in Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising some 63 vessels.
Nakilat also owns and manages as many as four large LPG carriers. Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City through two strategic joint ventures: N-KOM and NDSQ.
Nakilat also offers a full range of marine support services to vessels operating in the Qatari waters.