Qatar Navigation (Milaha) Increases Net Profit in H1 2012

Press Release
Sunday, August 05, 2012

Qatar Navigation (Milaha) Q.S.C. announce its financial results for the first half of 2012, ending June 30th.

Summary financial results are as follows:
    •    Operating revenues of QR 1.164 billion vs. QR 1.159 billion for the same period in 2011, an increase of 0.4% year over year.
    •    Operating Profit of QR 320 million vs. QR 300 million for the same period in 2011, an increase of 6.6% year over year.
    •    Net Profit of QR 441 million vs. QR 418 million for the same period in 2011, an increase of 5.5% year over year.
    •    Earnings per share of QR 3.85 vs. QR 3.65 for the same period in 2011.

Milaha’s Maritime & Logistics segment showed strongly improved results vs. H1 2011, driven by Port Services and Container Feedering activities.

Continued weakness in product tanker rates and a weak first quarter for LPG rates resulted in lower net profit for the Gas & Petrochem segment relative to 2011; however the segment’s performance improved significantly from Q1 2012.

Milaha’s Offshore segment declined year-on-year due to the overhang from a weak first quarter in 2012, despite a stronger performance in the second quarter.

“Our core businesses had a mixed first half as we’d expected, with gains in our regional maritime activities partially offsetting the difficult global environment in ocean transport and a decline in offshore services,” said Sheikh Ali bin Jassim Al Thani, Chairman and Managing Director of Milaha.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Newport News Shipbuilding Hosts Sen. Inhofe

Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division.   The senator,

Hempel CEO Jullien Plans Retirement

Pierre-Yves Jullien, CEO of Hempel A/S since 2005, has decided to retire after nearly 40 years in the Group. He will step down from his role as CEO on March 31, 2016 at the latest.

DNV GL Launches Singapore Service Center

DNV GL's new Singapore Service Center (SSC) will streamline customer support and enhance customers’ experiences by giving them a single point of contact for all operational issues.

Finance

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

Tanker Lifts One Million Barrels of Crude at Hariga

A tanker left Libya's eastern oil port of Hariga after lifting one million barrels of crude, an oil official said on Thursday. No new tanker was expected in the next few days,

Georgia Port Increases Container Traffic

The Georgia Ports Authority increased containerized cargo in March by 27.8 percent compared to the same month a year ago, for an additional 72,499 20-foot equivalent container units (TEUs).

Middle East

Tanker Lifts One Million Barrels of Crude at Hariga

A tanker left Libya's eastern oil port of Hariga after lifting one million barrels of crude, an oil official said on Thursday. No new tanker was expected in the next few days,

Cargo Ships Stuck off Yemen as Fighting Worsens Food Security

At least five merchant vessels carrying food are stuck off Yemen as warships from a Saudi-led coalition search them for weapons bound for Iran-allied Houthi rebel forces,

Intermarine Opens Istanbul Office

Intermarine, LLC, a transporter of project, breakbulk and heavy lift cargo, has established a physical presence in Turkey with the opening of an office in Istanbul.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1493 sec (7 req/sec)