Nakilat has reported a net profit of QAR420M (US$114M) for the first quarter ended 31 March 2024, a 6.1% increase compared to the same period in 2023
The improved financial performance is attributed to effective cost management and robust market demand for its LNG shipping services.
Nakilat chief executive Abdullah Al-Sulaiti said, “Despite the uncertain economic outlook and a high-interest environment, we have remained steadfast in our commitment to delivering reliable and safe global operations, providing clean energy to over 40 countries and approximately 100 terminals worldwide.”
He added, “The 6.1% increase in net profit in our latest financial results is a testament to the resilience of our company, our innovative solutions, and our operational efficiency."
In January 2024, Nakilat announced its shipping expansion through vessel acquisition when the company initiated orders for the construction of six gas vessels: two state-of-the-art LNG carriers and four contemporary very large LPG/ammonia carriers.
In February 2024, Nakilat was awarded long-term contracts and appointed as the exclusive owner and operator of up to 25 LNG carriers by QatarEnergy, marking a significant milestone in its fleet expansion project aimed at meeting future LNG production demands.
Riviera Maritime Media’s LNG Shipping & Terminals Conference will be held in London, 12 November 2024, click here to register your interest in this industry-leading event
© 2023 Riviera Maritime Media Ltd.