Nakilat, the Qatar LNG shipowner, has reported a 19% decline in net profit to QAR 607m ($160.5m) for the first nine months of 2017.

The Doha-based company blamed the decline on changes to the estimated scrap value of its fleet as well as a lower number of charter hire days.

However, the company added that it had been able to maintain the level of its operating expenses and reduced its finance costs.