Shipowner Qatar Navigation (Milaha) has posted weaker earnings in the first three months in tougher markets.
The company said net profit to 31 March was QAR 236m ($64.81m), compared to QAR 352m in 2016.
Operating revenue dropped to QAR 648m, versus QAR 767m, while operating earnings were QAR 185m, against QAR 256m the year before.
The maritime & logistics division's net profit declined by QAR 14m, mainly as a result of continued rate pressure in the container shipping unit, it said.
