Nakilat posted considerably net profit growth…

Nakilat (Qatar Gas Transport Company) has posted a half yearly net profit of QR446mn, up 24% on QR360mn registered in H1, 2013.

In a statement issued on behalf of its Board of Directors, Nakilat said the “company’s strong earnings clearly reflected the strength and stability of its financial position, and the prudent and effective strategic plan related to the development of our main business activities in the transportation of liquefied natural gas (LNG) to international markets. This has resulted in an increase in the number of operating vessels in Nakilat fleet during the first half of 2014.”

The board of directors pointed out that “the positive effect of the remarkable improvement in the international charter rate for the transportation of liquefied petroleum gas vessels, and the increased operating activities at the shipyard facilities, will continue to underpin the future financial results of the company.”

The board has affirmed “Nakilat’s commitment to pursue its development and growth strategy continuously and systematically, in order to achieve strong returns to its shareholders.”

Nakilat said it will continue to look for good opportunities to acquire new vessels, and to increase the utilisation rate for its facilities at “Erhama Bin Jaber Al Jalahma Shipyard”.

Nakilat is a Qatari marine transport company providing the essential transportation link in Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising some 61 LNG vessels.

Nakilat also manages and operates four large LPG carriers.

Through two strategic joint ventures, Nakilat Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard.

Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.