Nakilat, the shipping arm of Qatar’s LNG operation, has reported a nine month net profit largely unchanged from a year ago.
The Doha-based company said net income was QAR 749m ($205m) versus the QAR 756.3m a year ago, according to a Qatar bourse statement.
Nakilat said 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 company also reaffirmed its “steadfast commitment” to Nakilat’s growth and development strategy, in line with Qatar’s National Vision 2030.
“Nakilat’s resilient financial performance, despite the current economic climate, is attributed to the prudence and effectiveness of our long-term business strategies,” said Nakilat managing director Eng. Abdullah Fadhalah Al Sulaiti.
“We are actively seeking out new business opportunities to grow our business portfolio and maximize returns for our shareholders.
“Our joint ventures continue to value-add to our operations, strengthening our ambition to be a global leader and provider of choice for energy transportation and maritime services.”
Nakilat, which is the world’s largest shipper of LNG, boasts a fleet of 67 wholly- and jointly-owned LNG carriers and four LPG carriers.
The LNG fleet is said to be worth around $11bn and has a combined carrying capacity of over 8.5m-cbm, or 15% of global capacity.
Nakilat also operates ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City through two strategic joint ventures.
