Nakilat’s Q1 Profit Grows by 13 Pct

Qatar-based LNG shipping company Nakilat closed the first quarter of this year with a 13% year-over-year (YOY) increase in its profit.

The company posted a net profit of QAR 217 million (USD 59.6 million) in Q1 2018, compared to QAR 191.4 million (USD 52.6 million) recorded in the same period a year earlier.

“The company has managed to achieve positive results across its operations through rationalization of operational expenses, enhanced operational efficiency, and growth of our international portfolio through the recent expansion with Maran Gas Ventures Inc. to include two additional liquefied natural gas (LNG) carriers,” Nakilat said in a statement.

Following the addition of two LNG carriers in March 2018, Nakilat and Maran Gas now jointly own fifteen ships.

Furthermore, the most recent strategic alliance brings Nakilat’s fleet to a total of 69 vessels.

Separately, Nakilat said it has become the first company in Qatar to be certified to the new ISO 45001:2018 Occupational Health and Safety Management System (OH&S) standard. The certification has been issued by Lloyd’s Register Quality Assurance.