Nakilat reports 24 pct higher profit

Nakilat of Qatar, the world’s largest LNG shipper, said its net profit rose 24 percent to QR 446 million in the first half of 2014, compared to QR 360 million for the same period last year.

“Nakilat’s board of directors stated that the strong results of the company’s earnings clearly reflect the strength and stability of the company’s financial position, and the prudent and effective strategic plan related to the development of our main business activities in the transportation of liquefied natural gas (LNG) to include international markets. This has resulted in an increase in the number of operating vessels in Nakilat fleet during the first half of 2014,” the company said in a statement.

Nakilat will continue to look for good opportunities to acquire new vessels, and to increase the utilization rate for the shipyard facilities at “Erhama Bin Jaber Al Jalahma Shipyard”, it added.

1 Qatar riyal = 0.274676 U.S. dollars

[mappress]

Press Release, July 16, 2014; Image: Nakilat