Nakilat’s nine-month profit jumps 13.5% to QR 1.14 billion
Nakilat, the world’s largest liquefied natural gas (LNG) fleet owner, reported a 13.5% year-on-year increase in net profit to QR 1.14 billion in the nine months ended September 30.
Profits from joint ventures operating in LNG transportation and shipyards increased by 47.2%, while general and administrative expenses decreased by 5.5%.
The company’s strong financial results are a direct testament to its position as a global leader and supplier of choice for energy transportation and marine services. In addition to its marine services, Nakilat’s value proposition is further enhanced by offering ship repair, industrial and offshore manufacturing, towing and marine services, he said.
“Nakilat’s outstanding financial performance is a clear indicator of the company’s expansion strategy, superior track record and operational excellence in energy transportation and marine services. Through the strategic expansion of its fleet with four additional LNG carriers and the improved performance of its joint ventures operating in the shipyard, Nakilat has achieved long-term and sustainable growth,” said Abdullah al-Sulaiti, Director General of Nakilat.
In response to increased global demand for clean energy transmission capacity, Nakilat has diversified its portfolio and international reach.
“Customer focus is at the heart of our operations and we remain committed to meeting our customers’ needs for safe, secure and reliable energy transmission solutions on a global scale. Through the concerted efforts of its employees and sailors, the company has sustained its dynamic smooth growth and created value for its customers and shareholders,” al-Sulaiti said.
Since its inception in 2004, Nakilat has grown into a global leader and supplier of choice for energy transportation and marine services. With the world’s largest LNG fleet of 69 LNG carriers, Nakilat also manages and operates one Floating Regasification Storage Unit (FSRU) and four Very Large LNG Carriers (VLGC).
In addition, the company provides comprehensive ship repair and offshore fabrication services, ship agency services, as well as tug services and other marine support services through its joint ventures: Nakilat-Keppel Offshore and Navy (N-KOM), Qatar Fabrication Company (QFAB), Nakilat SvitzerWisjmuller (NSW) and Nakilat Agency Company (NAC).