Nakilat Buoyant on LNG Shipping

Maritime Activity Reports, Inc.

March 19, 2019

Pic: Nakilat

Pic: Nakilat

Qatari marine company Nakilat said that it continued to push boundaries and successfully implemented several long-term growth strategies by strengthening its international presence and diversifying its fleet towards maintaining global leadership in liquefied natural gas (LNG) transportation.

Nakilat is a shipping and maritime company with the world's largest LNG shipping fleet.

Dr. Mohammed Bin Saleh Al Sada, the Chairman of Nakilat’s Board of Director, said that Qatar Gas Transport Company's (Nakilat) expanded its fleet with the addition of two liquefied natural gas (LNG) carriers and acquired a major stake in its first floating storage regasification unit (FSRU).

"This opened a new horizon and business avenue for Nakilat, allowing it to maximize returns for shareholders while reinforcing its integral role in supporting Qatar’s industry-leading status as the world’s largest exporter of clean energy," he added.

He also noted the company’s commitment to operational excellence, as evident from the delivery of all cargos without any interruptions worldwide, despite the challenges brought about by the ongoing unjust blockade imposed on Qatar by neighboring countries.

The Chairman elaborated that leveraging on internal synergies of its local joint ventures housed at the world-class Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan gives Nakilat an added strategic advantage.

The integrated services of ship repair, offshore construction, ship building, as well as comprehensive maritime services and vessel support to various types of ships in local waters further adds value to its business and contributes towards elevating the country’s maritime industry to greater heights, in alignment with Qatar National Vision 2030.

For the year ended 31 December 2018, the company achieved a net profit of QR 892 million in 2018 (or QAR1.61 per share), an increase of 5.3%.

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