Qatari shipping company Nakilat on April 18 said its net for the three months to March 31 (Q1) came in at 320.1mn riyal ($85.3mn), up 14.5% year/year owing to lower expenses.  

The company’s revenue stood at 1bn riyal, down 1.4% yr/yr, its operating expenses decreased by 4.1% yr/yr and general and administrative expenses were down by 28.1% yr/yr, it said. It reported a record annual profit of 1.16bn riyal last year. 

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Nakilat has the world’s largest LNG shipping fleet comprising 72 vessels.