The shipowner said Sunday it achieved net income of QAR 693m ($190m) versus the QAR 553m seen in the same period a year ago.

Nakilat said the strong improvement in the performance of its LPG fleet contributed significantly to the improved results.

Last week Standard & Poor’s (S&P) reaffirmed Nakilat’s ‘AA-’ corporate credit rating with a stable outlook.

The rating agency highlighted its key strengths as its importance to Qatar’s LNG strategy, ownership of the world’s largest LNG fleet, and stable cash flows.

Nakilat