Qatar Navigation News

Ukraine’s infrastructure ministry said on Monday that part of the Black Sea port of Olvia, which is under concession to Qatari sea port operator QTerminals, had been hit by a military “strike”.Nobody was wounded, the ministry said without providing further details.QTerminals, a joint venture between state-owned Qatar Ports Management (Mwani Qatar) and shipping and logistics group Qatar Navigation (Milaha), won the 35-year concession in 2020 to develop and operate the port.(Reuters - Reporting by Pavel Polityuk, Writing by Alessandra Prentice, Editing by Timothy Heritage)

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, driven by lower vessel impairments and higher profit from our ports business.Milaha Gas & Petrochem’s operating revenue dropped by QR 14 million, with net profit increasing by QR 238 million against the same period last year.

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, 2019, up from QAR 203 million for the same period in 2018.Milaha Maritime & Logistics’ revenue decreased by QAR 24 million and net profit by QAR 12 million…

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, but we remain well-positioned to continue driving sustainable growth and delivering value for our clients and shareholders,” said Sheikh Jassim bin Hamad bin Jassim Al Thani…

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 of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, announced that Milaha was holding…

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), Kumport (Istanbul), Poti (Georgia), Novorossiysk (Russia), Piraeus (Greece), and will initially be served by two ships with 1…

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 8,000 vessels by serving a number of regional and international shipowners.Commenting on the upgrade plans, Milaha’s…

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 terminal operator.QTerminals is a terminal operating company jointly established by Mwani Qatar (51% shareholding) and Qatar Navigation (Milaha – 49% shareholding) and is responsible for enabling Qatar’s imports and exports…

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…

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 Chief Executive Officer said “In line with State of Qatar 2030 vision and in a world of increasingly complex supply chains, constantly challenging the status quo is imperative to drive sustained growth and deliver on fast-evolving customer expectations.

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…

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. Low shipping rates and the knock-on effect on vessel valuations in the sectors we operate continue to put a damper on profits. Milaha Offshore’s revenue decreased by QAR 29 million and bottom line by QAR 13 million.

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, adding that “signs of recovery are visible, and we are hopeful this will continue in 2018,” Al Thani added.

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. Milaha Maritime & Logistics’ net profit declined by QAR 23 million in 2017 compared to 2016, mainly due to QAR 33 million in vessel impairments in our Container Shipping unit.

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…

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.

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.

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.

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. However, we remain financially strong and will continue to invest prudently for the long term,” Sheikh Ali bin Jassim Al Thani, Chairman of Milaha’s Board of Directors, said.

Qatar Navigation (Milaha), a maritime and logistics conglomerate based in Qatar, has reported a net profit of $195 million for the year ended December 31, 2016 compared to $300 million reported the previous year. The fall in the profit was mainly as a result of lower revenue from our Port Services unit, which was affected by a drop in storage and general/bulk cargo revenue, and rate pressure in our Container Shipping unit, which still managed to grow its market share and volumes. Milaha said its operating profit hit QR555 million compared to QR855 million reported the previous year. The company registered an operating revenue of QR2.551 billion compared to QR2.9 billion the previous year.

HE Minister of Transport and Communications Jassim Saif Ahmed Al Sulaiti, Chairman of Qatar Ports Management Company (Mwani Qatar) and Sheikh Ali bin Jassim bin Mohammad Al-Thani, Chairman of Qatar Navigation (Milaha), today witnessed the signing of an agreement between Mwani Qatar and Milaha to establish a new company, QTerminals, to manage Hamad Port. As per the agreement, the new company will be co-owned by Mwani Qatar; 51%, and Milaha; 49%, and will manage operations at Hamad Port as an independent company with its own board of directors, executives and staff. The deal was signed by Mwani Qatar CEO Captain Abdulla Al Khanji and Milaha President & CEO Abdulrahman Essa Al-Mannai.

Qatar Navigation (Milaha) reported a 1.8 percent rise in third-quarter net profit on Sunday, in line with analysts' estimates. The shipper's net profit was 308 million riyals ($84.6 million) for the three months to Sept. 30, up from 302.5 million riyals in the year-ago period, according to Reuters calculations based on its financial statements. QNB Financial Services had forecast Qatar Navigation would make a third-quarter profit of 307.6 million riyals. The firm made a net profit of 959 million riyals in the first nine months of this year, compared with 820.8 million riyals in the year-ago period. The shipping firm in September appointed Abdulrahman Essa Al-Mannai as president and chief executive. (Reporting by Hadeel Al Sayegh; Editing by Andrew Torchia)

Qatar Navigation (Milaha), a leader in marine transportation offshore support services, port management and logistics services, has appointed Abdulrahman Essa Al-Mannai as its president and chief executive officer. He will succeed Khalifa Ali Al-Hetmi, who had previously announced his plan to retire. Al-Mannai previously led the commercial planning and allocation functions at Qatargas. Having spent his career with Qatargas, he has overseen many areas, including the commercial function of UK’s South Hook LNG Terminal, which is Europe’s largest LNG regasification terminal and handles a significant percentage of the UK’s gas requirements.