Milaha News

29 Oct 2019

Milaha's 9-months Net Profit Up 5%

Image: Milaha

Qatar Navigation (Milaha) reported a 5% year-on-year increase in net profit to QR419mn in the first nine months of this year on account of the earnings expansion in its maritime and logistics business as well as gas and petrochem.The company's earnings-per-share was QR0.37 compared to QR0.35 for the same period in 2018. Operating revenues stood at QR1.83bn for the nine months ended September 30, 2019, against QR1.81bn for the same period in 2018.Milaha Maritime & Logistics’ operating revenue increased by QR 18 million and net profit by QR 52 million…

29 Apr 2019

Milaha Profit Rises in Q1

Pic: Milaha

Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) reported an increase in net profit for the first three months of the year.Net profit for the period under review reached 278 million Qatari Riyals ($76.4 million) which compares to 260 Qatari Riyals in the first three months of 2018, Milaha reported.The operating revenues of QAR 708 million for the three months ended March 31, 2019, up from QR 698 million for the same period in 2018 and the operating profit of QAR 214 million for the three months ended March 31…

27 Feb 2019

Milaha Net Profit Up 10%

Abdulrahman Essa Al-Mannai. President and CEO. Photo: Milaha

Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) reported  a 10% rise in its net profit  for the twelve months ended December 31, 2018.The Middle East maritime and logistics company delivered a net profit of QAR 516 million (USD 141.7 million) for the twelve months ended December 31, 2018, compared to QAR 470 million for the same period in 2017.“We are pleased with the year-on-year improvement in performance. There are still some challenges in the markets in which we operate…

08 Feb 2019

Milaha Ups Stake in Nakilat

Image: Nakilat

Qatar-based maritime transport and logistics company  Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent…

04 Feb 2019

Milaha Launches BSX

Image: Milaha

Middle East's maritime and logistics company Milaha (Qatar Navigation) will start a direct container shipping service connecting the Black Sea and the Mediterranean in its first foray into Europe.According to a press release from the Qatar-based maritime transport and logistics conglomerate the new feeder service marks Milaha’s first European service linking the Mediterranean and Black Sea. The BSX demonstrates Milaha’s commitment to deliver reliable and agile services to its customers and partners globally.The BSX rotation is Piraeus (Greece)…

16 Dec 2018

Qatar's Milaha to Upgrade Shipyard in Mesaieed

Photo: Qatar Navigation

Qatar Navigation (Milaha), maritime and logistics company in the Middle East,  has selected Royal Haskoning DHV to develop plans to upgrade its Shipyard facilities in preparation for further growth in current markets and expansion into new areas of operations.According to a Qatar Stock Exchange annoucement, the Shipyard also serves the industrial markets by providing maintenance, shutdown, fabrication and workshops services.Since its foundation in 1978, Milaha’s strategically-located Shipyard has repaired approximately 8…

29 Nov 2018

Milaha Wins Award for Contributions to Qatari Economy’s Resilience

Photo: Milaha

Milaha, a Qatar-based shipping and logistics conglomerate, participated in the 2nd Business Continuity and Resilience Conference, which was held in Doha on November 20th, under the patronage of H.E. Minister of Commerce and Industry Ali bin Ahmed al Kuwari and attended by business continuity, risk management and organizational resilience professionals from all sectors.Milaha’s PCEO Mr. Abdulrahman Essa Al-Mannai headed the company’s delegation to the conference where he delivered a presentation…

13 Nov 2018

QTerminals Reaches 2mln TEUs Milestone

Pic: Ministry of Transport and Communications, Doha, Qatar

QTerminals, the recently-established operator of the first phase of Hamad Port in Qatar, has reached 2mn TEUs (twenty-foot equivalent units) and 5mn tonnes of general cargo at the end of October this year, thus tripling the levels since the beginning of the unjust diplomatic and trade embargo in June 2017 by the Saudi-led quartet."This remarkable feat was achieved in record time with operations at Hamad Port only starting as recently as October 2016.," said a release from the…

01 Nov 2018

Milaha Reports 10% Increase in Net Profit

Qatar Navigation (Milaha) Q.P.S.C. has announced its financial results for the nine months ended September 30, 2018. Key financial highlights:•Operating revenues of QAR 1.8 billion ($494 mln) for the nine months ended September 30, 2018, compared to QAR 1.7 billion ($466 mln) for the same period in 2017•Operating profit of QAR 314 million ($86 mln) for the nine months ended September 30, 2018, compared to QAR 200 million ($54 mln) for the same period in 2017•Net profit of QAR 400 million ($109 mln) for the nine months ended September 30, 2018, compared to QAR 363 million ($99 mln) for the same period in 2017•Earnings per share of QAR 3.52  for the nine months ended September 30…

22 Oct 2018

Qatar Navigation Undergoes Digital Transformation

Pic: Qatar Navigation

Qatar-based maritime and logistics conglomerate Qatar Navigation (Milaha) has signed an agreement with Oracle Cloud applications to drive a major digital transformation across all its core business operations and its subsidiaries.The initiative will help Milaha create new revenue streams by introducing innovative services and drive operational efficiency with automated processes, said a press release from the Qatari logistics giant.Abdulrahman AlMannai, Milaha’s President and…

30 Jul 2018

Milaha Reports Improved H1 Profits

(Photo: Milaha)

Shipping conglomerate Qatar Navigation (Milaha) Q.P.S.C. announced its financial results for the six months ended June 30, 2018, reporting operating revenues of QAR 1.25 billion for the six months ended June 30, 2018, up from QAR 1.15 billion for the same period in 2017.The company’s operating profit for the period also rose to QAR 258 million, up from QAR 170 million for last year’s same period. A net profit of QAR 297 million beat last year’s QAR 267 million, while earnings per share increased to QAR 2.62…

10 Jul 2018

Liftboat Milaha Explorer Deployed off West Africa

The Milaha Explorer crew following deployment off the coast of West Africa (Photo: Milaha)

Qatar-based maritime and logistics conglomerate Milaha said its liftboat Milaha Explorer has been deployed off the coast of West Africa as part of a long-term charter with a major international oil company.Milaha’s President and CEO, Abdulrahman Essa Al-Mannai, said, “Over the past few months, we have been significantly ramping up our operations, and I am pleased to announce further growth in our geographic footprint and operational portfolio with this long-term deployment, which marks our entry into Africa.

02 May 2018

Milaha Rolls Out Qatar-Iraq Direct Container Feeder Service

Photo: Qatar Navigation Q.P.S.C. (Milaha)

Qatar-based maritime transport and logistics conglomerate Milaha has announced the launch of a direct container feeder service between Qatar and Iraq. The new service, which will be an expansion of the existing Qatar-Kuwait service that the company launched last year, will follow a Hamad Port-Umm Qasr (Iraq)-Shuwaikh (Kuwait)-Hamad Port rotation, and will be initially served by one vessel with a 1,015 TEU capacity and 110 reefer plugs. The service will have a transit time of 2 days…

29 Apr 2018

Milaha Reports Net Profit of $71.3M

Photo: Qatar Navigation Q.P.S.C.

Qatar Navigation (Milaha), a leading maritime and logistics conglomerate, has reported a net profit of QR260 million ($71.3 million) for the first quarter of 2018, up from QR236 million ($64.80 million) for the same period in 2017. Milaha Maritime & Logistics’ revenue increased by QAR 65 million and net profit by QAR 29 million as a result of volume growth in our Ports business, and better operating margins in our Container Shipping unit. Milaha Gas & Petrochem’s revenue decreased by QAR 5 million and net profit by QAR 54 million.

19 Mar 2018

Milaha Eyes Global Expansion

Photo: Qatar Navigation Q.P.S.C.

Qatar Navigation (Milaha) is planning to expand operations and capabilities in Qatar and overseas as part of its long term plan to improve efficiency and profitability. During the General Assembly meeting, Sheikh Ali bin Jassim bin Mohammad Al Thani, Chairman of Milaha’s Board of Directors presented an overview of the company’s activities and financial results for 2017 along with highlights of business plans for the year 2018. "The Chairman underlined the impact of industry-wide and geopolitical challenges on the company’s financial performance…

26 Feb 2018

Milaha Reports USD 129 mln Net Profit for 2017

Photo: Qatar Navigation (Milaha) Q.P.S.C.

Qatar Navigation (Milaha) reported  a net profit of QAR 470 million (USD 129 mln) for the twelve months ended December 31, 2017. Operating revenues decreased by 2% to QAR 2.491 billion for the twelve months ended December 31, 2017, down from QAR 2.551 billion for the same period in 2016. Operating profit decreased by 19% to QAR 448 million for the twelve months ended December 31, 2017, down from QAR 555 million for the same period in 2016. Earnings per share decreased to QAR 4.14 for the twelve months ended December 31, 2017, down from QAR 6.26 for the same period in 2016.

22 Jan 2018

Milaha Acquires its Largest Containership

Majd (Photo: Mike Page / Milaha)

Qatar-based maritime and logistics conglomerate Milaha said it has acquired its largest container vessel to date, Majd, a 3,768 TEU vessel. Majd was built by STX Shipbuilding Co. Ltd. in South Korea, and has a length overall of 246.87 meters and a deadweight of 44,985 metric tons. The new vessel will be one of the 17 container vessels that the group operates, and is part of the ongoing expansion of the group’s overall fleet. Milaha currently fully owns and operates a fleet of over 80 vessels…

26 Nov 2017

Milaha Rolls Out Sri Lanka-Bangladesh Feeder Service

Photo: Milaha

Qatar-based maritime transport and logistics conglomerate Milaha is launching a direct feeder service between Sri Lanka and Bangladesh. "Milaha has announced the launch of a direct feeder service between Sri Lanka and Bangladesh. Colombo and Chittagong will be the 7th and 8th new ports of call for Milaha this year, and is part of the significant service expansion since the beginning of 2017," says a statement from the company. The new service, called BCX, will be operated via two vessels of effective capacity 1…

28 Aug 2017

Qatar Navigation Launches Pakistan Service

(File photo: Qatar Navigation)

Major Qatari shipping conglomerate Qatar Navigation (Milaha) is launching a direct service between Qatar and Karachi in Pakistan, the company said on Sunday, as it seeks to counter economic sanctions against Doha by other Arab States. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and transport links with Doha on June 5, ending the use of Dubai's Jebel Ali port as a trans-shipment centre for goods flowing to and from Qatar. As a result, imports into Qatar plunged by more than a third from year-earlier levels in June and July…

22 Aug 2017

Qatar Shipper Milaha Starts Turkey Service amid Crisis

Vessel at Port of Izmir (Photo: Milaha)

Qatar Navigation (Milaha), the Doha-based maritime and logistics group, has launched a direct shipping service between Qatar and Turkey amid a regional diplomatic crisis that has cut Doha cut off from three of its closest neighbours. Saudi Arabia, the United Arab Emirates (UAE), Bahrain, along with Egypt, cut diplomatic and trade ties with Qatar in June over its alleged support for terrorism and Iran - charges Doha denies. The four countries have banned Qatari vessels from docking at their ports, as well as flights to and from Doha.

16 Aug 2017

Milaha Launches Kuwait Service amid Diplomatic Crisis

(Photo: Milaha)

Qatar Navigation (Milaha) , a top Doha-based shipping and logistics group, said on Wednesday it had launched a new container service to Kuwait amid a diplomatic crisis that has seen it lose access to regional trans-shipment hub, Dubai. Milaha will operate the weekly, direct service between Kuwait and Qatar using a vessel capable of handling the equivalent of 515 20-foot containers, the company said in a statement. Milaha said the service between Qatar's Hamad Port and Shuwaikh Port in Kuwait would have a transit time of one day and be ideal for transporting perishable products and food.

07 Aug 2017

Milaha Plans Base in Oman after Trade Hit by Diplomatic Rift

Qatar Navigation (Milaha), a top Doha-based shipping and logistics group, said it was shifting its regional trans-shipment hub from Dubai to the Omani port of Sohar after a diplomatic crisis in the region disrupted Qatar's trade. Milaha is setting up a warehousing and logistics operation at Sohar, on Oman's northern coast, and is exploring other opportunities to expand in that country, the company said on Monday. The plan suggests Qatar is making long-term preparations to cope with sanctions imposed by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt, which cut diplomatic and transport ties on June 5, accusing Doha of backing terrorism.

02 Aug 2017

Qatar Navigation Profit Falls in Q2 and H1

Doha Port: Milaha

Qatar Navigation (Milaha) reported an 85 percent fall in second-quarter net profit, reports Reuters. Second-quarter net profit stood at 30.8 million riyals ($8.5 million) in the three months ending June 30, versus 201.4 million riyals a year earlier. Milaha has also reported a net profit of QR267 million for the six months (H1) ended June 30, 2017, compared to QR553 million for the same period in 2016. The report said that the company is hurt by a global marine downturn and regional sanctions. “We are in the midst of an unusually prolonged global downturn across most marine sectors.

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