Qatar’s Nakilat sees Q1 profit rise

Qatar’s Nakilat, the world’s largest liquefied natural gas shipper, reported an 18 per cent rise in its first-quarter profit.

Nakilat said Monday its net profit reached 279.5 million Qatari riyals ($76.7 million) in the January-March period.

Quarterly revenue also increased by 13 per cent year-on-year to 1.02 billion Qatari riyals ($280 million).

Nakilat said that despite the ongoing challenges related to the Covid-19 coronavirus the company continued to “uphold operational excellence in the management of its vessels and ensured no disruption to its business”.

The LNG shipping company’s fleet consists of 69 vessels out of which four are LPG carriers and one floating storage and regasification unit.