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Thursday, November 15, 2018

Nakilat Grows Profits 9%

Maritime Activity Reports, Inc.

July 11, 2018

Logo: Nakilat

Logo: Nakilat

Nakilat announced its financial results for the first half of the year ended June 30, 2018, with the company achieving a net profit of QR 445 million compared to QR 409 million during the same period in 2017, an increase of 9 percent.

The company observed positive developments despite the challenging market conditions in the maritime sector over the past year. Nakilat continued to pursue its long-term strategic goals through the expansion of its fleet with two additional LNG carriers earlier this year and more recently, acquired a major stake in its first floating storage regasification unit (FSRU).

Nakilat said its financial results for the first half of this year is a reflection of the its secured long-term agreements with financially strong charterers, which has enabled the company to maintain a steady cashflow and generate positive value for its shareholders. The company noted it achieved reduced financing costs and enhanced efficiencies across its operations.

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