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    Nakilat's profit up 13% in Q3

Summary

Qatari shipping company Nakilat on October 16 said its net profit in the three months to September 30 (Q3) rose 13.2% year/year owing to lower...

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Middle East, Liquefied Natural Gas (LNG), News By Country, Qatar

Nakilat's profit up 13% in Q3

Qatari shipping company Nakilat on October 16 said its net profit in the three months to September 30 (Q3) rose 13.2% year/year owing to lower expenses and higher revenue.

The company’s net profit in Q3 was 1.13bn riyal ($310mn) compared with 1bn riyal in the same period of last year. Profits of joint venture companies operating in LNG transportation and shipyard increased by 47.2% yr/yr, the Qatari state-owned company said. Nakilat reduced its general and administrative expenses by 5.5% yr/yr. 

Nakilat has a fleet of 74 vessels including 69 LNG carriers, four LPG carriers and one FSRU.