Nakilat’s profit climbs 25 pct

October 27, 2014

Nakilat of Qatar reported a net profit of QR 693 million for the first nine months of 2014, a rise of 25 percent compared to the same period in 2013.

“The strong results of the company’s earnings clearly reflect the strength and stability of the company’s financial position, and the prudent strategy in exploiting valuable opportunities to develop and grow the company’s main business activities in the field of LNG transportation to include international markets, which in turn has resulted in an increase in the number of operating vessels in Nakilat’s fleet during the year 2014,” Nakilat said in a statement on Sunday .

According to the statement, the LPG vessels’ performance contributed significantly to the achievement of these results. In addition to the increased operating activities at the shipyard facilities, which will continue to underpin the future financial results of the company, Nakilat said.

Nakilat’s fleet consists of 54 wholly-owned and jointly-owned LNG carriers, and four LPG vessels.

1 Qatar riyal = 0.274624 U.S. dollars

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LNG World News Staff; Image: Nakilat